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“Nicht-Wissen kann schützen (Knowing Less Protects),” FuW, 2018

Summary:
Finanz und Wirtschaft, November 24, 2018. PDF. Ökonomenstimme, November 26, 2018. HTML. European firms dealing with Iran face U.S. “secondary sanctions.” European counter measures (including a blocking statute) prove toothless. Even central banks in the European Union surrender to U.S. pressure, as does SWIFT. Ignorance is bliss: For a sovereign, the best protection against foreign states pressuring to monitor domestic citizens and businesses may be to know as little as possible.

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Finanz und Wirtschaft, November 24, 2018. PDF. Ökonomenstimme, November 26, 2018. HTML.

  • European firms dealing with Iran face U.S. “secondary sanctions.”
  • European counter measures (including a blocking statute) prove toothless.
  • Even central banks in the European Union surrender to U.S. pressure, as does SWIFT.
  • Ignorance is bliss: For a sovereign, the best protection against foreign states pressuring to monitor domestic citizens and businesses may be to know as little as possible.
Dirk Niepelt
Dirk Niepelt is Director of the Study Center Gerzensee and Professor at the University of Bern. A research fellow at the Centre for Economic Policy Research (CEPR, London), CESifo (Munich) research network member and member of the macroeconomic committee of the Verein für Socialpolitik, he served on the board of the Swiss Society of Economics and Statistics and was an invited professor at the University of Lausanne as well as a visiting professor at the Institute for International Economic Studies (IIES) at Stockholm University.

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