What do you do with 191bn frozen euros owned by Russia?
The question that now confronts Western policymakers
In economic terms, an asset has value because an owner might derive future benefits from it. Some assets, like cryptocurrencies, require a collective belief in those benefits. Others, like wine, will undeniably provide future pleasure, such as the ability to savour a 1974 Château Margaux. Still others, like American Treasuries, represent a claim on the government of the strongest economy in the world, backed by a formidable legal system.
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This article appeared in the Finance & economics section of the print edition under the headline “Treasure hunters”
Finance & economics March 2nd 2024
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- Are passive funds to blame for market mania?
- Activist investing is no longer the preserve of hedge-fund sharks
- How Trump and Biden have failed to cut ties with China
- Uranium prices are soaring. Investors should be careful
- What do you do with 191bn frozen euros owned by Russia?
From the March 2nd 2024 edition
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Germany’s economy goes from bad to worse
Things may look brighter next year, but the relief will be short-lived
An economics Nobel for work on why nations succeed and fail
Daron Acemoglu, Simon Johnson and James Robinson tackled the most important question of all
Why investors should still avoid Chinese stocks
The debate about “uninvestibility” obscures something important
China’s property crisis claims more victims: companies
Unsold homes are contributing to a balance-sheet recession
Europe’s green trade restrictions are infuriating poor countries
Only the poorest can expect help to cushion the blow
How America learned to love tariffs
Protectionism hasn’t been this respectable for decades