President of the European Council the member state holding the semiannually rotating Presidency of the Council of the European Union at any given time. However, since the 2007 Treaty of Lisbon, article 15 of Treaty on European Union states that the European Council appoints a full-time president for a two-and-a-half-year term, with the possibility of renewal once. Appointments, as well as the removal of incumbents, require a double majority support in the European Council. On 19 November 2009, the European Council agreed that its first president under the Lisbon Treaty would be Herman Van Rompuy (European People's Party, Belgium). Van Rompuy took office when the
Panama Papers 2013 letter, unearthed by the "Financial Times" to the then president of the European Council, Herman Van Rompuy, the then Prime Minister of the United Kingdom David Cameron said that offshore trusts should not automatically be subject to the same transparency requirements as shell companies. The Panama Papers revealed that the Minister of Finance of Andorra, Jordi Cinca, while he was CEO of Orfund SA, maintained an offshore company called Mariette Holdings Inc, until its dissolution in 2002 for fear of discovery of his participation in these businesses. The business activities of Orfund had ties to the blood diamond trade,