Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union.
When Commission President Ursula von der Leyen unveils her economic recovery plan, it could represent a significant turning point in the EU's integration. It will certainly trigger weeks of bartering. We know the broad dividing lines: France and Germany want the fund to make grants to countries who need it most and enable the commission to issue 500 billion euros in bonds. Austria, Denmark, the Netherlands and Sweden aren't so keen. Swedish Finance Minister Magdalena Andersson told Bloomberg Tuesday that despite objections, her government is willing to discuss a way forward. Is a compromise in sight? — Ian Wishart What's HappeningGreen Future | The EU's economic recovery plan is set to include the world's most climate-ambitious stimulus package. It's poised to earmark tens of billions of euros for hydrogen technology, seen as the fuel of the future, as well as infrastructure for clean energy. Ewa Krukowska and Vanessa Dezem explain. What Brexit? | Negotiations between the EU and Britain are stumbling on, but distracted by coronavirus and recovery plans there's little sign member states want to get involved any time soon. With the risk of no deal looming, they might have to decide whether it's worth doing so at all. German Wishlist | German Chancellor Angela Merkel's government is preparing a bundle of measures to be announced in June that aim to put Europe's largest economy back on track. Here's a look at the ever-expanding wishlist.
Keep Away | Sweden's laxer response to Covid-19 gave citizens more freedom than most as the pandemic raged. On Tuesday, the country's foreign minister, Ann Linde, responded to a decision by Cyprus to blacklist her countrymen over concerns they might represent an unacceptable contagion risk. Read her interview with Bloomberg News. Extra Time | Britain is out of the EU but, through a series of seemingly unfashionable deals, its soccer teams may have found a way to keep one foot in the bloc. Here's why there's a link between Brussels and Barnsley. In Case You Missed ItFrench Drive | President Emmanuel Macron unveiled a raft of subsidies for the French auto industry that will add another 8 billion euros to the government's stimulus bill this year. The plan will include a subsidy of 7,000 euros for the purchase of electric cars and aims to increase annual production of electric and hybrid vehicles to one million by 2025. Emergency Landing | Lufthansa finally secured a 9 billion-euro bailout. Find out why Chief Executive Officer Carsten Spohr quickly understood that if he wanted to save the company where he had risen through the ranks since 1994, he'd need to ask for help. Scaling Back | Viktor Orban is moving toward giving up his right to rule Hungary indefinitely by decree, which some critics had warned would transform the country into a de facto dictatorship. Budapest is quick to point to its withdrawal pledge as proof that opponents were wrong. British Scandal | Been following the developing saga of Boris Johnson's top aide whom the prime minister has refused to fire? Here's more on Dominic Cummings, the man described by some as the maverick at the heart of government. Nice Work | Think you've saved money during lockdown? Check out the man who was paid 16,000 euros a month since 2015 to do nothing and failed to get a 2 million-euro payoff. Chart of the Day Germany has been sued by environmental activists over its failure to tackle harmful air pollutants. Lawyers ClientEarth and environmental charity Deutsche Umwelthilfe argue the state's environmental polices mean it'll miss 2030 targets to reduce pollutants, putting lives at risk. Germany is on track to miss the legal targets for four out of the five pollutants by the start of the next decade, according to the plaintiffs. Today's AgendaAll times CET. - 1:30 p.m. Von der Leyen addresses the European Parliament to present jointly financed recovery plan to stem the impact of the pandemic-induced recession
- ECB Supevisory Board chair Andrea Enria, European Banking Authority head José Manuel Campa and EU Commission Brexit Task Force Director Paulina Dejmek-Hack participate in online conference on financial services and the coronavirus
- EU economy chief Paolo Gentiloni delivers speech at the Official Monetary and Financial Institutions Forum's online seminar on the euro area's virus response
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