Europe may be able to win its healthy battle with the Corona virus, but it may not easily overcome its economic effects after the growing wealth of organized crime networks and the massive increase in money laundering operations in the largest country of the continent.
In an article published in the French newspaper Les Echos, writer Jacques-Hubert-Rodier highlighted the revival of organized crime networks in Europe in light of what has become known as the "Covid economy" and the economic risks facing the continent in light of this situation.
The writer quotes the Italian journalist Roberto Saviano - in an article for the Italian newspaper "La Repubblica" - as saying that the "Covid economy" is characterized by the acceleration of the growth of technology giants such as Amazon or Apple, in contrast to the collapse of the real economy represented by small and medium companies, restaurants and transportation companies. .
Saviano asserts that the "Covid economy" has led to the accumulation of wealth in organized crime networks, which threatens the whole of Europe, according to his opinion, not only Italy, and believes that Europe can escape the health effects of Corona and overcome the virus, but it will not escape the grip of the "Covid economy." "In light of the enormous amount of money traded by criminal organizations.
Mafia organizations
In Italy, the revenues of the Ndrangheta organization are about 60 billion euros, while the revenues of the Camorra organization range between 20 and 35 billion. But the risk goes beyond this country - according to the writer - and includes countries such as Germany that ignore the risks of the impact of organized crime on the economy, although it is one of the most vulnerable countries, given the ease of laundering money within its financial system.
According to the "Tax Justice Network" non-governmental organization, Germany ranks 14th in the world in the financial secrecy index, ahead of Panama, which ranked 15th, and the island of Jersey, which ranks 16th.
"This poses a hidden danger," says Professor Kai Detlev Bosmann of the University of Halle, Germany, as it is estimated that the volume of money laundering operations in the country reaches 100 billion euros annually.
Saviano returns and says that Europe - which focuses its attention on counting the number of deaths due to the emerging corona virus - is ignoring the amount of money that the mafia invests in funeral ceremonies and funerals, and in money laundering by saving companies close to bankruptcy. But he believes that the time has not passed yet to address the matter and save the economy of the old continent.