Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union.
As Europe returns to a semblance of normality, back comes Brexit onto the front pages as if nothing had happened. Another round of negotiations starts today, the last one scheduled before a stock-taking summit, and each side is blaming the other for the lack of progress.
While there are small signs of compromise on the significant issue of fishing rights, other topics — the level playing field to ensure fair competition, as well as how agreements are structured and governed — remain huge sticking points.
"The U.K. has been taking a step back" from its initial commitments, EU chief negotiator Michel Barnier told the Sunday Times. British officials responded by accusing the EU of using delaying tactics.
World Burning | Meanwhile, the world around us burns. Following the death of an unarmed black man in police custody in Minneapolis last week, riots have hammered U.S. cities still recovering from lockdown and President Donald Trump threatened to deploy the U.S. military. The Chinese crackdown on Hong Kong continues and the Sino-American trade truce is showing signs of crumbling amid an unprecedented global recession.
Virus Update | In brighter news, the easing of lockdowns in Europe hasn’t led to an uncontrollable surge in new cases — at least not yet. Some experts say the virus may have been weakened by the summer heat or may be mutating into a more benign form. Whatever the reason, the worst may — just may — be behind us, our columnist Lionel Laurent writes.
German Stimulus | German Chancellor Angela Merkel will seek to broker a compromise today on a second stimulus package to help Europe’s biggest economy recover from the deep recession caused by the coronavirus. Here’s a closer look at a range of measures being considered, based on discussions with officials and lawmakers.
Creepy Apps | Technology may allow companies across Europe to open more quickly and protect the health of employees as they try to rebound from lockdowns. It might also mean they end up in court. This is why.
In Case You Missed It
Bailout Precedent | Lufthansa's bailout will be a precedent for Air France-KLM and other airlines that could force them to give up landing slots in exchange for government support to survive the pandemic, the EU’s antitrust chief told us in an interview. Watch Margrethe Vestager on Bloomberg TV here.
Austerity Shelved | Memories of harsh austerity in the wake of the global financial crisis are motivating Estonia to end what’s been the continent’s greatest aversion to borrowing. Read more about how the EU's least indebted state is now going on a spending spree.
Roma Plight | With growing evidence that the coronavirus is disproportionately hitting marginalized communities across the continent, Roma groups are fearful that old wounds are being opened up. This Roma community in "illiberal" Hungary is a case in point.
Czech Controversy | The Czech government approved a draft law that critics say may help obscure ties between the country’s billionaire prime minister and his business empire as he faces a conflict-of-interest probe. The allegations are the biggest political burden for Andrej Babis and have complicated the running of his minority administration since he won the 2017 election.
All times CET.
- 11 a.m. Press conference by EU foreign policy chief Borrell on the external action finance instruments of the proposed EU budget for 2021-2027
- 2 p.m. German ruling coalition meets on stimulus package, including car industry measures
- Video conference of EU sports ministers on resuming sports activities
- European Parliament Agriculture Committee debates the revised EU budget proposal and its impact on farm policy funding with Budget Commissioner Hahn
- Italian opposition including League leader Salvini plan demonstrations in Rome against the government’s handling of the economic reopening