Theoretical status of varepsilon'/varepsilon

We briefly overview the historical controversy around Standard Model predictions of $\varepsilon'/\varepsilon$ and clarify the underlying physics. A full update of this important observable is presented, with all known short- and long-distance contributions, including isospin-breaking corrections. The current Standard Model prediction, $\mathrm{Re}(\varepsilon'/\varepsilon) = (14\pm 5)\cdot 10^{-4}$, is in excellent agreement with the experimentally measured value.