In today's delicate financial environment, one cannot stop but to associate the culprits of the financial crisis with a bunch of pirates from the 15th century. But the quintessential pirates, that is, pirates at sea, do no belong merely to the sensationalism of history books. Piracy at sea is a live, real, and costly threat to the global economy. It is common knowledge that 90% of world trade depends on the shipping industry. However, the successful execution of pirate-led operations is threatening the very industry that is the lifeblood of the world trading system. A poor effort has been made thus far to resolve this growing threat - at a time when the global economy is - for lack of better words - sinking.
Click here to view a brief video on the issue generally.
Click here to view the EU's efforts in tackling piracy at sea.