Finance

A photo illustration of euro, U.S. dollar, and British pound notes on Oct. 13, 2017.

Europe’s Dream: Escaping the Dictatorship of the Dollar

Trump’s hostile behavior is reinvigorating efforts to turn the euro into an alternative to the world’s dominant currency. If only the Europeans could find some way to do it.

Egyptian President Abdel Fattah al-Sisi meets with Managing Director of the International Monetary Fund Christine Lagarde in Hangzhou, China, on Sept. 3, 2016.

Egypt’s Economy Isn’t Booming, It’s Collapsing.

Abdel Fattah al-Sisi has sold his country as an investment destination with the IMF’s help—but the living standards of ordinary Egyptians are plummeting as elites line their pockets.

A man poses with replica prints of the demonetized 500- and 1,000-rupee notes in Mumbai on Nov. 20, 2016.

India’s $7 Billion Election

How the vote got so expensive, and what it says about the country’s democracy.

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This Banking Fraud Shows How Shady China’s Economy Remains

Beijing promises reforms, but won't take the steps that really matter.

Several hundred white supremacists carrying tiki torches march through the University of Virginia campus in Charlottesville on Aug. 11, 2017. (Evelyn Hockstein/For The Washington Post via Getty Images)

Neo-Nazis Bet Big on Bitcoin (And Lost)

How the far-right's failed cryptocurrency gamble became a bad joke for the Christchurch killer.

Police seize a hoard of cash in Salto del Guairá, Paraguay on Feb. 14, 2017. (Stringer/AFP/Getty Images)

Paraguay Is a Fiscal Paradise for Terrorists

The South American country needs to do a better job patrolling its financial system—or face the consequences.

iStockphoto/Foreign Policy illustration

Forget Bitcoin, Try Your Mattress

Cryptocurrency is about as safe as keeping your money in a sock under someone else’s bed.

A woman walks past a currency exchange shop in Tehran's grand bazaar on Nov. 3, 2018.

Can a New Currency End Tehran’s Economic Woes?

The Central Bank of Iran wants to take four zeros off the rial—but redenomination won’t work miracles.

U.S. President Donald Trump delivers his first State of the Union address in Washington on Jan. 30, 2018. (Win McNamee/AFP/Getty Images)

Welcome to the World’s Least Ugly Economy

Despite inequality, debt, and a tariff war, the U.S. economy is still the strongest.

President of Turkey Recep Tayyip Erdogan addresses the press during the Argentina G20 Leaders' Summit 2018 on Dec. 1 in Buenos Aires. (Daniel Jayo/Getty Images)

Erdogan’s Anti-Semitism Will Sink Turkey’s Economy

The Turkish president’s racist conspiracy theories are a threat to economic stability.

Iranian members of parliament display their disagreement over a bill, one of four put forward by the government to meet demands set by the international Financial Action Task Force,  in Tehran on Oct. 7. (Atta Kenare/AFP/Getty Images)

Sanctions Are Just the Beginning for Iran

The economic blow to Tehran will be compounded if it fails to comply with global financial transparency rules.

Sudanese Foreign Minister Al-Dirdiri Mohamed Ahmed gives a press conference in Khartoum on June 24. (Ashraf Shazly/AFP/Getty Images)

Trump Administration Gives Sudan a Way to Come in From the Cold

The United States should stop listing Sudan as a state sponsor of terrorism, Sudanese foreign minister tells FP, as Khartoum seeks to boost its crumbling economy.

A collection of coins from all over the world is pictured in Milan, Italy, on Dec. 9, 2011. (Giuseppe Cacace/AFP/Getty Images)

Financial Crimes and Punishment

China is now in charge of one of the world’s most important watchdogs. Here’s how it is treating allies like Pakistan.

Ships in the Port Louis harbor in Mauritius on Dec. 25, 2015. (T. Vale/Getty Images)

African Governments Are Paying for the World Bank’s Mauritius Miracle

Ghost offices on the small island provide legal but questionable means of siphoning tax dollars away from poor countries and into the pockets of the global elite.

The Danske Bank building in Copenhagen, Denmark.

The Danske Bank Scandal Is the Tip of the Iceberg

Financial institutions and the governments that regulate them aren’t doing nearly enough to prevent money laundering.  

Conservative members of Parliament Jacob Rees-Mogg, Boris Johnson, and Peter Bone listen during the launch of "A World Trade Deal: The Complete Guide" at the Houses of Parliament on September 11, 2018 in London, England.

A No-Deal Brexit Will Destroy the British Economy

The magical wing of the Conservative Party believes that Britain can crash out of the European Union painlessly. It is leading the country into a recession.

Two employees of Christie’s auction house maneuver the Lehman Brothers corporate logo before placing it in an auction on Sept. 24, 2010. (Oli Scarff/Getty Images)

How the Tariff War Could Turn Into the Next Lehman

A decade on, we still don’t get the deeper interconnections in the global economic system—or how it could blow up again.

Alipay and WeChat QR codes for online payment are displayed at a meat stall at a market in Nantong in China's eastern Jiangsu province. Sept. 10.(STR/AFP/Getty Images)

China Can’t Afford a Cashless Society

A mania for mobile payments is leaving the poor behind.

French Economy  Minister Bruno Le Maire addresses a conference  on February 15, 2018 at the Economy Ministry in Paris.

OFAC Off

The European Union needs to defend its economic sovereignty from U.S. overreach. Creating its own agency for sanctions enforcement would be a start.

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