  We summarize a recent strategy for a global analysis of the B -> pi pi, pi K
systems and rare decays. We find that the present B -> pi pi and B -> pi K data
cannot be simultaneously described in the Standard Model. In a simple extension
in which new physics enters dominantly through Z^0 penguins with a CP-violating
phase, only certain B -> pi K modes are affected by new physics. The B -> pi pi
data can then be described entirely within the Standard Model but with values
of hadronic parameters that reflect large non-factorizable contributions. Using
the SU(3) flavour symmetry and plausible dynamical assumptions, we can then use
the B -> pi pi decays to fix the hadronic part of the B -> pi K system and make
predictions for various observables in the B_d -> pi^-+ K^+- and B^+- -> pi^+-
K decays that are practically unaffected by electroweak penguins. The data on
the B^+- -> pi^0 K^+- and B_d -> pi^0 K modes allow us then to determine the
electroweak penguin component which differs from the Standard Model one, in
particular through a large additional CP-violating phase. The implications for
rare K and B decays are spectacular. In particular, the rate for K_L -> pi^0 nu
\bar nu is enhanced by one order of magnitude, the branching ratios for B_{d,s}
-> mu^+ mu^- by a factor of five, and BR(K_L -> pi^0 e^+ e^-, pi^0 mu^+ mu^-)
by factors of three.
