Illegals thrive on vigorous, open labour markets in societies with few internal checks.

ECONOMIST: Who gets in

The European Commission, which drafts and oversees EU laws, considers that reintroducing internal border checks in the EU should be a last resort.

BBC: EU warned against changing Schengen deal on borders

And yet, despite their inherent fuzziness and lack of "significant operational content", despite the lack of formal checks on banks' internal procedures for coming up with these rates, Euribor and Libor are the benchmark for pricing transactions worth trillions of dollars.

BBC: Inconvenient truths about Libor

After border checks, the only backstop is internal enforcement.

ECONOMIST: Who gets in

There is a plethora of checks and balances available against financial abuses, both internal to the corporation and in statutes and regulations.

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