  There is no doubt that in the coming years we will witness the renaissance of
kaon flavour physics with crucial measurements of the branching ratios for the
rare decays $K^+\rightarrow\pi^+\nu\bar\nu$ and
$K_{L}\rightarrow\pi^0\nu\bar\nu$ that are very sensitive to new physics (NP)
and are theoretically very clean. Simultaneously the role of
$\varepsilon'/\varepsilon$, $\varepsilon_K$, $\Delta M_K$, $K_L\to\mu^+\mu^-$
and $K_L\to\pi^0\ell^+\ell^-$ in searching for NP will significantly increase
through their improved estimates within the SM. In fact the hints for NP
contributing to $\varepsilon'/\varepsilon$ have been signalled last year
through improved estimates of hadronic matrix elements of QCD and electroweak
penguin operators $Q_6$ and $Q_8$ by lattice QCD and large $N$ dual QCD
approach. Also recent increased tensions between $\varepsilon_K$ and $\Delta
M_{s,d}$ mass differences in $B_{s,d}^0-\bar B_{s,d}^0$ mixing within the SM
and models with constrained MFV tell us that we should have tremendous fun in
chasing NP through all these observables. The present talk discusses the hinted
anomalies in $\varepsilon'/\varepsilon$,and $\Delta F=2$ transitions and
summarizes possible implications of simultaneous anomalies in
$\varepsilon'/\varepsilon$ and $\varepsilon_K$ for
$K^+\rightarrow\pi^+\nu\bar\nu$ and $K_{L}\rightarrow\pi^0\nu\bar\nu$ and
$\Delta M_K$ in models with tree-level $Z$ and $Z^\prime$ exchanges. The
anomalies in $\varepsilon'/\varepsilon$ and $\varepsilon_K$, if confirmed,
would signal new sources of CP violation. This is in contrast to the recent
anomalies in $B$ physics that signal lepton flavour non-universalities and NP
in CP-conserving observables. Highlights from recent flavour analyses of 331
models are briefly described.
