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
- 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
- Stockmarkets are booming. But the good times are unlikely to last
- What do you do with 191bn frozen euros owned by Russia?
- Are passive funds to blame for market mania?
From the March 2nd 2024 edition
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