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How Desperate Has the Italian Banking Crisis Become? (Jeff C.)
The ECB has ordered two “zombie banks,” Banca Popolare di Vicenza and Veneto Banca, to be liquidated. They will not be bailed out with public funds. Senior bondholders and depositors will be protected, but shareholders and subordinate bondholders will lose their shirts.
White House Threatens Assad Pre-Chemical Attack (Trevin)
“Any further attacks done to the people of Syria will be blamed on Assad, but also on Russia & Iran who support him killing his own people,” tweeted Nikki R. Haley, the American ambassador to the UN.
Trump Sells Drones to India (Dan)
First sale of drones to a non-Nato aligned country. The Predator drones will monitor China’s movements in the Indian Ocean.
Finland Tests Universal Basic Income (Jimmy)
Participants in a trial experiment received 560 euros every month for two years with no strings attached.
In Yemen’s Secret Prisons, UAE Tortures and US Interrogates (Jimmy)
Hundreds of al-Qaida suspects have been brutally tortured in secret prisons run by the United Arab Emirates, where US forces conducted interrogations. Senior defense officials denied that any torture took place while US forces were present.