Cyprus

Authored by Pyotr Iskenerov via The Strategic Culture Foundation,

The European Commission is offering European consumers the so-called Southern Gas Corridor, which provides for the supply, in particular, of Azerbaijani and Central Asian gas along the Turkey–Greece–Italy route. The project’s potential participants have their own interests, however, and are divided by long-standing antagonisms that are turning the corridor into a military and political delayed-action mine.

A man has been arrested over the hijacking of an EgyptAir plane that landed in Cyprus. Egyptian Streets reports: Official sources at EGYPTAIR declared the release of all the hostages and the arrest of the hijacker. #EgyptAir — EGYPTAIR (@EGYPTAIR) March 29, 2016 Videos of the plane on the runway showed the remaining hostages fleeing from the plane in two groups. The first group of four people included three who departed via the plane exit door and one man who could be seen climbing out of the cockpit window. The second group included three people who ran out from the plane door.

The 81 passengers aboard EgyptAir flight MS181 got quite a scare on Tuesday when the Airbus 320 en route from Alexandria to Cairo was hijacked by a man who claimed to be wearing an explosive belt. Here's the tweet that hit earlier this morning:

Our flight MS181 is officially hijacked. we'll publish an official statement now. #Egyptair

— EGYPTAIR (@EGYPTAIR) March 29, 2016

Submitted by Simon Black via SovereignMan.com,

On Friday March 15, 2013–just over three years ago–people across the entire nation of Cyprus went to bed believing that everything was OK.

The next morning they woke up to a different reality.

It turned out that their banking system was totally broke. After suffering enormous losses, banks no longer had sufficient liquidity or capital to maintain customer account balances.

Canada has joined the “bail-in” posse.

Canada will introduce legislation to implement a "bail-in" regime for systemically important banks that would shift some of the responsibility for propping up failing institutions to creditors.

The proposed plan outlined in the federal budget released on Tuesday would allow authorities to convert eligible long-term debt of a failing lender into common shares in order to recapitalize the bank, allowing it to remain operating.

Source: CNBC