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The Long Term Effects of Terrorism

The growing impact on our economies and citizens of terrorism is no loger in question. However, the consequences are difficult to assess.Of course, the damage to infrastructure and buildings can easily be calculated. But what about the loss of life, the injured, the loss of jobs, the increase of insurance premiums, the billions of hours lost by millions of passengers due to additional control measures in the airports and railway stations etc..And how can we evaluate the downturn in trade and the slackening of tourism which are directly linked to terrorist activities? And how can we evaluate the new trade barriers due to closed borders? And the long term social damage is even more difficult to assess. A.Klein (CNAS) clearly summed up the situation: "..while specific industries such as tourism, Insurance or Airlines suffer following attacks and household and company confidence dip, the broader economy impact is often transitory...sporadic attacks don't alter economic trendlines , but frequent attacks, over the long term, probably would significantly depress consumer expectations and business investment. An attack with weapon of mass destruction in a major urban area could fundamentally alter our way of life". And it is no secret that a terror organisation such as ISIL aims to launch cyber-attacks on europe's critical infrastructure.The next step would be to crash passenger jets by hacking into on -board electronics or to take control of a nuclear power plant.These threats should be taken very seriously by the international community.According to figures announced recently by the British Government, Britain will commit to doubling expenditure on cyber security to £1.9 billion by 2020 and elite forces are to receive £2 billion over the next 5 years. All European countries will have to quickly step up their investments in the fight against terrorism. There is a price to pay for the stability and security of our societies.

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