Europe

Earlier we introduced the Gotthard Base Tunnel, the longest and deepest tunnel in the world. The 35 mile long tunnel which cuts underneath the Alps helps remove natural barriers to trade and tourism, and is undoubtedly a testament to Swiss precision engineering.

Interestingly, as Bloomberg reports, the tunnel that was 17 years in the making and had workers on three shifts working around the clock to build, was built primarily by foreigners.

Via VladTepesBlog.com,

An original translation by Nash Montana of a PI News report...

One of the recurring concerns voiced by Bank of America's Michael Hartnett is that with May now in the rearview mirror, we are entering "the event risk month" of June (incidentally, over the weekend, the credit strategist presented several ideas how to trade said event risk, either bullish or bearish). Now it is UBS' turn to reiterate the warning that June may see a spike in volatility due to "an unusual number of known unknowns."

A world-renowned expert on the Italian mafia, journalist Roberto Saviano, says the UK is “the most corrupt country in the world”. Saviano has spent more than a decade exposing the criminal dealings of the Italian Mafia.

In the latest tragic news from the world of finance, earlier today Zurich Insurance, the largest Swiss insurer which employs 55,000 people and provides general insurance and life insurance products in more than 170 countries, reported that Martin Senn, the company's former chief executive officer who stepped down in a December reshuffle, has committed suicide. He was 59.

Senn had been a long-time employee of the insurer, serving as its chief executive for six years before stepping down in December.