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Schoors, Koen

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De Morgen - Belgium | 08/07/2014

Stiff penalties for trade with tyrannical regimes

The fine the French-Belgian bank BNP Paribas must pay to the US for circumventing economic sanctions against countries like Sudan and Iran doesn't go far enough for economist Koen Schoors. In the left-liberal daily De Morgen he calls for harsh punishment for those who finance tyrannical regimes: "In view of the shocking consequences in each of the countries in question - think of the drama in Darfur - one can only describe this business behaviour as white-collar crime of the highest degree. ... Enough of this. No more lame whimpering about internal procedures that need to be more rigorous. The state must assume a leading role and demand a thorough investigation into how this could happen, how such things can be prevented in the future and who was responsible. ... Those who for years tolerated this for the sake of even higher bonuses should be put on trial."

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