Free trade zones should be tightly controlled. At one time the zones may have served a legitimate purpose. Today they are for the most part cover for money laundering and smuggling. At the very least, the free trade zones should require that shippers in and out of the zone maintain documentation covering the origin of goods they receive as well as documents covering shipment to the destination. All the transactions and all the documentation should be subject to scrutiny by both the shipping and the receiving country.
Currency remains a serious problem.
The wide availability and negotiability of the U.S. dollar makes the job of the launderer much easier. This large denomination Euro will be a money launderer's dream. Further, the periodic recall of all currency would place a serious crimp in the drug trade. Countries should not charter international banks which are not subject to regulation. These banks have concealed ownership and are not subject to serious supervision.