The EU hopes to move on from its latest vaccine fiasco today. The European Medicines Agency will issue updated guidance on the safety of AstraZeneca’s Covid-19 shot after countries across the bloc unilaterally halted its use over concerns about the risk of blood clotting. A positive assessment seems likely as the regulator has consistently backed the vaccine and the World Health Organization yesterday said that its benefits outweigh any risks. But a wave of vaccine skepticism suggests damage may have already been done. Take Italy, for example, where thousands of people ditched vaccine appointments after safety concerns were raised. It highlights just how political — and delicate — the vaccine rollout in Europe has become as the region struggles to ramp up the pace in an effort to immunize 70% of adults by the end of September. 

What’s Happening
Vaccine Fight | The EU’s vaccine problems don’t end there. Commission President Ursula von der Leyen threatened to withhold vaccine exports to the U.K. She raised the prospect of pulling an emergency trigger that’s been used only once before — during the oil crisis of the 1970s — which allows authorities to seize control of production and distribution.

Liberte Restricted | Watch out for an announcement of stricter localized coronavirus measures in France today, following previous announcements to shutter the northern city of Dunkirk last month and the region of Alpes-Maritimes in the south, including Nice, on the weekends. Keep up to date with the latest virus happenings here.

Dutch Vote | Mark Rutte won a clear victory in yesterday’s Dutch election to secure a fourth term as prime minister. Exit polls show the country may be ready for a more conciliatory relationship with the rest of Europe after the traumas of the pandemic.

Lagarde Hearing | ECB President Christine Lagarde will appear before EU lawmakers this morning, a week after her institution pledged to step up asset purchases to contain a rise in sovereign-bond yields. She may also address the bloc’s fiscal response to the crisis, as concerns mount about delays to the flagship recovery fund and the U.S. pulls ahead with a $1.9 trillion stimulus bill.

Green Targets | Adapting the EU economy to climate change will be on the agenda when environment ministers meet on Wednesday for their quarterly gathering. They will also get an update from the Portuguese presidency on talks about the European Climate Law, with member states and the European Parliament still at odds over how strict a new 2030 emissions-reduction target should be.

In Case You Missed It
Take Off | Europe’s battered airlines and hospitality industry finally have a glimpse of clearer skies ahead. The Commission yesterday proposed the introduction of digital certificates. They’ll offer proof their holders have been vaccinated — or that they recovered from the virus, or recently tested negative — and are therefore free to travel.

Listen Up | Travel is a subject we touch on in this week’s Brussels Edition podcast. Virginia Messina, managing director at The World Travel and Tourism Council, tells us that standardized rules are needed to ensure a safe summer. Tune in here.

Greece’s Odyssey | Greece is now fully back in the bond markets, completing its decade-long return. And its sale of 30-year debt — its longest — was a roaring success, attracting more than 10 times as many bids as the amount of bonds on offer, showing that its junk status is no longer enough to put off investors.

Russian “Killer” | Tensions between West and East are heating up, with U.S. President Joe Biden agreeing that Russian President Vladimir Putin is a “killer.” New U.S. sanctions could come as soon as next week, and may target Russia’s oligarchs and others close to Putin. No doubt, the EU, which has had its own recent run ins with Russia, will be watching closely.

Chart of the Day

The central bank of Sweden, one of the world’s most cashless societies, is tripling the number of offices available to handle notes and coins. The country’s Riksbank, responsible for supplying the largest Nordic economy with banknotes, said it’s opening two new locations for cash handling in addition to an existing office. Find out why, here.

Today’s Agenda
All times CET.

• 9 a.m. The European Parliament’s Economic and Monetary Affairs Committee will debate with ECB’s Lagarde on the state of the Eurozone
• 9:30 a.m. European Innovation Council online launch ceremony with welcome statement from Commission President von der Leyen
• 9:30 a.m. The EU’s top court gives a non-binding opinion in Germany’s appeal of a lower court decision that limited Russia’s control of a key natural gas link
• 9:30 a.m. The EU’s top court rules in a challenge by Pometon against Commission antitrust fines for participating in a cartel to coordinate steel abrasives prices
• 9:30 a.m. EU Environment ministers meet by video conference
• 11:45 a.m. EU health chief Stella Kyriakides speaks at European Committee of the Regions 143rd plenary session
• 2:30 p.m. EU trade chief Valdis Dombrovskis speaks at European Committee of the Regions 143rd plenary session
• 3 p.m. EMA press conference
• 4:15 p.m. EU energy chief Kadri Simson speaks at European Committee of the Regions 143rd plenary session