Europe

Two weeks after the first, and biggest, European bank bail-in took place under the relatively new European bank resolution mechanism, the EBRD, when Spain's Banco Popular wiped out the holders of its most risky securities, including equity and AT bonds, and then selling what was left of the bank to Santander for €1 - a process that took place without a glitch -  Italy may have just killed any hope of a European banking union, when the bailout of two small banks made a "mockery" of Europe's new regulation.

(GLOBALINTELHUB.COM) – 6/26/2017 — Drugs have been a part of human society forever – however far back you go, humans have used drugs in one form or another; medicine, recreation, spirituality (Shamans of simple tribes often ate psychedelics).  In the world today there is an interesting schism between the puritan “America” and “Europe” about this issue – in Europe they consider drug addiction a health issue, and in places like Switzerland you can literally get strong narcotics like heroin from the Government.

Last night we noted that yet another luxury condo at Manhattan’s One57 tower, a member of “Billionaire’s Row,” a group of high-end towers clustered along the southern edge of Central Park, had gone into foreclosure - the second in the span of a month.  The 6,240-square-foot, full-floor penthouse in question, One57’s Apartment 79, sold for $50.9 million in December 2014, making it the eighth-priciest in the building and likely the largest residential foreclosure in Manhattan's history.

Authored by Jon Hall via Free Market Shooter blog,

1984 is seemingly already in full-effect in the EU.

An anti-racism demonstration in London, 2016.

After countless terror attacks in the name of Islam on European soil, it seems authorities in the EU are more angry over citizen’s freedom of speech and expression…

Authored by Wolf Richter via WolfStreet.com, 

ECB shuts down Veneto Banca and Banca Popolare di Vicenza.

When banks fail and regulators decide to liquidate them, it happens on Friday evening so that there is a weekend to clean up the mess. And this is what happened in Italy – with two banks!

It’s over for the two banks that have been prominent zombies in the Italian banking crisis: Veneto Banca and Banca Popolare di Vicenza, in northeastern Italy.