Donate today and your gift will be matched dollar-for-dollar by the American Public Media Board.
TEXT OF INTERVIEW
SCOTT JAGOW: The E.U. may move closer today to a Europe-wide penalty for counterfeiting and piracy. Our correspondent Stephen Beard joins us from London. Stephen, what are the particulars?
STEPHEN BEARD: This measure, if passed, would impose and harmonize a Europe-wide criminal penalty for counterfeiting and intellectual piracy. And we’d be talking about up to four years in jail and fines of up to $120,000 — three times that amount, $360,000 if it’s organized crime involved or there’s a risk to health and safety in counterfeited goods.
JAGOW: Well Stephen, how bad of a problem is counterfeiting in Europe?
BEARD: It is particularly a problem in Britain actually. You go to markets here and you’ll see designer handbags, jewelry, cosmetics, perfumes all branded but the branding is not what it seems. They are in fact fake. It’s a huge industry in the U.K. They reckon the profits are something like $17 or $18 billion a year.
JAGOW: OK Stephen, thank you.
BEARD: OK Scott.
JAGOW: Stephen Beard in London.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.
Don’t miss this special