Bloomberg Businessweek

After the Bombs Have Fallen

With Islamic State on the brink of battlefield defeat, the U.S. and Europe confront the threat at home

After Iraqi forces reclaimed control of Mosul, the country’s second-largest city, on July 10, Iraq Prime Minister Haider al-Abadi declared “total victory” over Islamic State. The American commander of the global coalition to defeat the group, U.S. Army Lieutenant General Stephen Townsend, said the loss of Mosul had dealt a “decisive blow” to the terrorist organization. With U.S.-backed Kurdish and Arab fighters preparing to capture Raqqa, the terrorists’ stronghold in Syria, President Donald Trump predicted “the total destruction of ISIS.”

Three years since the insurgent group declared the establishment of an “Islamic caliphate” straddling Iraq and Syria, it faces military defeat. Islamic State no longer possesses a base of operations from which

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