Italy goes “Cyprus” on Sicilian Mafia, seizes $1.7 billion

I’m thinking that grabbing money from organized crime in an apparently illegal way may have unintended consequences. The seized assets in Italy were almost entirely alternative energy projects and the authorities don’t appear to have bothered with annoying niceties like Rule of Law or showing just cause.

And so, in two brief weeks, cash-strapped European nations have declared war on both Russian billionaire oligarchs and the Sicilian mafia. One wonders how long until Swiss authorities follow suit and “impair” Triad and Yakuza savings in Zurich and Geneva, and sets off a global “us versus them” scorched earth war?

Maybe, with any luck, they’ll kill each other off.