| Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. If the Franco-German proposal on joint debt issuance wasn't proof enough that the EU's two biggest economies want an ever-closer union, there's more coming today. The bloc's defense ministers will discuss a policy paper (obtained by Bloomberg) that's backed by Berlin and Paris and calls for much deeper military integration, "fostering the EU's capacity to act as a security provider." No doubt skeptics will say they've heard that before, with plans for a European army that have gone nowhere. But with the virus exposing the bloc's vulnerabilities, questions about Donald Trump's commitment to the continent's security and the U.S.-China rivalry escalating, this may be one of those perfect storms that spurs Europe to act. — Nikos Chrysoloras What's Happening Recovery Talks | A more immediate priority is a deal on joint EU debt to cushion the blow from a virus-induced economic depression. European Affairs ministers will today lay the ground for what's bound to be an inconclusive summit of leaders on Friday. Expect everyone to stick to their guns for now. Virus Update | In what could be the shape of things to come for Europe, China and the U.S. are struggling to contain a new wave of coronavirus infections. Germany will buy a stake in a major player in the hotly contested race for a vaccine, and shoppers in England made a comeback. ECB Move | The European Central Bank's next move to cope with the deepest downturn in decades could turn on whether it listens more to consumers or investors about the risk of deflation. This is why it matters. Brexit Momentum | It's now official that the post-Brexit transition period won't be extended. Following an hour-long video call aimed at rebooting the deadlocked negotiation, Boris Johnson and the EU's top officials agreed to intensify talks on a trade deal and indicated they're willing to soften their positions, improving prospects of an accord. In Case You Missed It Targeting China | The EU fired a warning shot at China over its global trade ambitions with an unprecedented tariff decision to counter state subsidies to exporters. Here's how a landmark levy on glass-fiber fabrics takes aim at the Belt and Road plan. Rebuking Poland | The EU slammed Poland's president for attacking the gay community as he campaigns ahead of a June 28 election, saying those who discriminate shouldn't receive aid from the bloc. Over the weekend, Andrzej Duda denounced what he calls "LGBT ideology," vowed to keep it away from children and compared it to Soviet communist indoctrination. Costly Annexation | European officials have warned Israel that unilateral annexation of West Bank land may cost it lucrative EU science research grants. Still, blanket sanctions against Israel are unlikely since they require unanimous support of member countries. Gold Mystery | The ownership of nearly $200,000 worth of gold bars left on a Swiss commuter train last year remains a mystery, raising an even bigger question: who commutes with a bag of gold in the first place? Chart of the Day  Around 1.7 million people work as hairdressers and beauticians in the EU. During the peak of the outbreak, they had to discontinue their activities. Now that economies reopened, they have to work in close proximity to clients, exposing themselves to infection risk. Next time you complain about the virus, spare a thought for the people keeping us pretty. Today's Agenda All times CET. - 10 a.m. Video conference of EU defense ministers
- 11 a.m. Press conference by Commission Vice-President Valdis Dombrovskis on the launch of the trade policy review
- 11 a.m. NATO Secretary General Jens Stoltenberg previews a June 17-18 meeting via video conference of the alliance's defense ministers
- 1:45 p.m. Ambassador Kay Bailey Hutchison, U.S. Permanent Representative to NATO, briefs press
- 2:30 p.m. Video conference of European affairs ministers to discuss proposal for jointly-financed recovery fund and the new EU long term budget
- Trade Commissioner Phil Hogan takes part in a debate about a planned review of EU commercial policy
- Hungary's Parliament is expected to back a government bill that calls for ending the country's state of emergency
- French court may impose large fine on far-right National Front
-
Like the Brussels Edition? Don't keep it to yourself. Colleagues and friends can sign up here. We also publish the Brexit Bulletin, a daily briefing on the latest on the U.K.'s departure from the EU. For even more: Subscribe to Bloomberg All Access for full global news coverage and two in-depth daily newsletters, The Bloomberg Open and The Bloomberg Close. How are we doing? We want to hear what you think about this newsletter. Let our Brussels bureau chief know. | 
Post a Comment