Why Economics Make the Iran Nuke Deal Unenforceable

SMITH BRAIN TRUST -- While Israel proposes that Iran cease all nuclear research and development activity as part of a U.S.-Iran nuclear deal, such an agreement will prove unenforceable, according to Peter Morici, professor of international business at the University of Maryland’s Robert H. Smith School of Business. In a CNBC guest column, Morici writes: “Ultimately, Tehran will become the dominant economic and military power in the Middle East and if it chooses, build nuclear weapons." He says the United States was successful in assembling an international coalition to impose tough economic sanctions. Restrictions on access to technology, international banks and their electronic payments systems imposed double digit unemployment and inflation and brought Iran to the negotiating table. “Simply, finding buyers for oil shipped via 3 million barrel supertankers was one thing, but the inability to transfer funds through Western banks made securing $150 million payments quite another.” Read more...