Euro becomes currency of choice for cocaine traffickers - Victoria Burnett
MADRID: The euro has become the currency of choice for Latin American cocaine traffickers as the drug's popularity among Europeans has soared and the value of the currency against the dollar has risen, a top U.S. anti-narcotics official said Thursday. Karen Tandy, head of the Drug Enforcement Administration, said that Europe's appetite for drugs was increasingly being supplied from West Africa, which has emerged with alarming speed as a major shipping hub for cocaine, heroin and synthetic drugs from all over the world.
In an interview in Madrid, where she was attending an international anti-narcotics conference held by the U.S. drug agency and the Spanish government, Tandy and other agency officials said cocaine traffickers had shifted their focus from the U.S. market toward Europe, which is gripped by a cocaine craze similar to that experienced in North America in the 1980s. Comment EU-Digest: "Action is required by the EU Commission and the member states."
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