Policy Brief-Chris Raggett
SUMMARY
- European governments have failed to prevent corrupt actors from laundering hundreds of billions of dollars through the international financial system and their own economies.
- This breakdown in the rule of law empowers kleptocratic regimes across the globe, which capitalise on the political culture underpinning Europe’s approach to globalisation.
- Western governments create a negative feedback loop that hinders their foreign policy initiatives when they treat corruption in other countries as an inherent part of the local culture.
- European policymakers should aim to catch up with, and overtake, their US counterparts on anti-money laundering regulation and enforcement.
- European countries should create national institutions – and an international coalition of Western states – that are dedicated to countering kleptocrats.
https://www.ecfr.eu/publications/summary/networks_of_impunity_corruption_and_european_foreign_policy
voskopoulos 