One European company that’s weathering the downturn just fine

European companies like ING, Philips, and Corus may be cutting staff as the financial crisis ravages the global economy, but things seem to be looking up for one of Europe’s oldest companies: the Italian mafia. The mob’s revenues surged 40 percent to about $167 billion in 2008, according to a new study. Veteran mafia watchers ...

By , a former associate editor at Foreign Policy.

European companies like ING, Philips, and Corus may be cutting staff as the financial crisis ravages the global economy, but things seem to be looking up for one of Europe's oldest companies: the Italian mafia.

European companies like ING, Philips, and Corus may be cutting staff as the financial crisis ravages the global economy, but things seem to be looking up for one of Europe’s oldest companies: the Italian mafia.

The mob’s revenues surged 40 percent to about $167 billion in 2008, according to a new study. Veteran mafia watchers are not surprised:

“During a crisis, people lower their guard,” Roberto Saviano, who wrote the bestseller “Gomorrah” about the Camorra crime bosses, said in an interview. “Studies show the criminal market never suffers during a crisis. I’m convinced that this crisis is bringing huge advantages to criminal syndicates.”

Joshua Keating was an associate editor at Foreign Policy. Twitter: @joshuakeating

More from Foreign Policy

Russian President Vladimir Putin and Chinese President Xi Jinping give a toast during a reception following their talks at the Kremlin in Moscow on March 21.
Russian President Vladimir Putin and Chinese President Xi Jinping give a toast during a reception following their talks at the Kremlin in Moscow on March 21.

Can Russia Get Used to Being China’s Little Brother?

The power dynamic between Beijing and Moscow has switched dramatically.

Xi and Putin shake hands while carrying red folders.
Xi and Putin shake hands while carrying red folders.

Xi and Putin Have the Most Consequential Undeclared Alliance in the World

It’s become more important than Washington’s official alliances today.

Russian President Vladimir Putin greets Kazakh President Kassym-Jomart Tokayev.
Russian President Vladimir Putin greets Kazakh President Kassym-Jomart Tokayev.

It’s a New Great Game. Again.

Across Central Asia, Russia’s brand is tainted by Ukraine, China’s got challenges, and Washington senses another opening.

Kurdish military officers take part in a graduation ceremony in Erbil, the capital of Iraq’s Kurdistan Region, on Jan. 15.
Kurdish military officers take part in a graduation ceremony in Erbil, the capital of Iraq’s Kurdistan Region, on Jan. 15.

Iraqi Kurdistan’s House of Cards Is Collapsing

The region once seemed a bright spot in the disorder unleashed by U.S. regime change. Today, things look bleak.