Damascus, the Monopoly game and the international sanctions

Counterfeiting a devaluated currency that almost nobody wants seems to be a strange idea. But there is someone who must be gaining from this, although it is certainly not the average Syrian banker. Europe is preparing to adopt a new round of sanctions to limit the Syrian regime’s options.

Counterfeiting a devaluated currency that almost nobody wants seems to be a strange idea. But there is someone who must be gaining from this, although it is certainly not the average Syrian banker.

Europe is preparing to adopt a new round of sanctions to limit the Syrian regime’s options. In addition to the ban on further oil investments (those already in place being not threatened), the Central Bank of Syria is no longer capable of printing banknotes or minting coins, because these were manufactured in Europe.

No more international money transfers

Europe can easily implement this last sanction, as the printing presses capable of printing banknotes accepted as legal tender arein Austria, Germany and Belgium.

The rest of the Western countries seem determined to follow the movement. An expatriate living in Syria reported that he had met a man wanting to transfer money to his son in Canada. « Don't even think about it » was the answer he got from banks and other agencies that carry out international transfers. Syrian Pounds stay in Syria. The only option left is to change the Pound into foreign currency in Syria, which does not seem to be a problem as long as it is the real Syrian Pound. But for the fake and poorly imitated banknotes, absolutely no foreign currency can be obtained from them. They have no value.

Back to the Future

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