If a country has a long land border, like the United States, or coasts temptingly near poorer countries, like Italy, its best hope is internal enforcement.

ECONOMIST: Who gets in

In the current gloomy investment outlook, with weak stockmarkets and low interest rates, tobacco companies' shares offer temptingly high yields, as do the bonds that American states have issued, backed by the income they are due to receive from their big tobacco settlement.

ECONOMIST: Ups and downs for Big Tobacco