Europe

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

Submitted by Oscar Webb via MiddleEastEye.net,

Beko stood outside the Moria centre, trying to make sense of where to go next after a controversial plan to send migrants and refugees from Europe back to their countries came into effect earlier this week.

The 28-year-old from Baghdad, his Syrian wife and their two-month-old son are among hundreds of people who have arrived on dinghys and boats to Greece in recent days, after a deadline for the new EU-Turkey deal passed at midnight on Sunday.

Authored by John Mauldin of MauldinEconomics.com,

Dear Donald and Hillary:

In around ten months, one of you will wake up as Mr. or Mrs. President. After the fabulous fun of post-inaugural balls, you will walk into the Oval Office on Saturday, January 22 and launch into your first 90 days in office.

During these days, you will want to deliver on as many of your promises as possible. But instead of shadowboxing with hypothetical futures on a debate stage, you’re going to be up against cold, hard reality.

Two days after the tragic terrorist attacks in Brussles, the situation remains extremely fluid, with the largest concern being that more sleeper cells may be activated especially since the third man who participated at the Zaventerm airport suicide bombing is still at large. Here, courtesy of the Guardian and Politico, are the most recent key developments out of Belgium.

As the chaos surrounding the coordinated suicide attacks on Belgium unfolded on Tuesday morning, we reported that energy utility Electrabel was evacuating two nuclear power plants, Doel, made up of four reactors, and Tihange, comprised of three.

Electrabel would later dispute that account, drawing a distinction between a full evacuation and the utility’s generous offer to non-essential employees: “...people who are not strictly necessary on site can leave.”