United Nations drug tsar Antonio Maria Costa said profits made by drug gangs have helped to prevent some banks from collapsing this week, in an astonishing interview with Austrian magazine Profil.
The zero tolerance fanatic revealed that the UN had evidence that some banks had been rescued by ‘interbank loans funded by money that originated from drug trade’ though refused to name names or even countries.
"In many instances, drug money is currently the only liquid investment capital," Mr Costa reportedly said, “In the second half of 2008, liquidity was the banking system's main problem and hence liquid capital became an important factor,” he added.
Civil liberties campaigner David Borden, executive director of Drug War Chronicle, mocked Mr Costa gently for being ‘a little too honest’ and noted his credentials as a highly trained economist.
“Suppose the drug war magically started to work and the trade were wiped out, or people suddenly stopped using drugs. What would happen to the economy?” he asked.
“What would happen to countries like Afghanistan or Colombia or Mexico where a lot of the money being made is in drugs and a lot of people are dependent on that money? Or in some sectors of US society, for that matter? It would be a catastrophe,” he predicted.
British drugs expert Danny Kushlick from Transform also ridiculed the UN this week, accusing the organisation of practising ‘inhumane, unjust and irrational’ US style policies.
"The (UN) board is complicit in gifting the illegal drug market to terror groups, paramilitaries and organised criminals, contributing to the political and economic destabilisation of producer and transit countries and putting millions at risk of contracting blood-borne viruses,” he said.
“The INCB (International Narcotics Control Board) and the UN Office on Drugs and Crime pose a greater threat to global well-being than drugs themselves,” he added. (Guardian)
Jonty Skrufff (Skrufff.com)