| Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. Emmanuel Macron will address the French nation on Bastille Day today to unveil what he's called his "new path" and to reboot his presidency following criticisms of how the government handled the coronavirus crisis. He's expected to give more clues on a fresh stimulus proposal that should be unveiled in late August and could include tax cuts as well as measures to support youth employment. While Macron initially suggested a possible turn to the left, he's making it increasingly clear that he won't change the core of his policy. He's sticking with his flagship plan to slash costs in the French pension system, but has acknowledged that the project needs to adapt to the new reality. — Alexander Weber and Ania Nussbaum What's Happening Germany-Italy Alliance | German Chancellor Angela Merkel showed a united front with Italy's Giuseppe Conte days ahead of a crucial EU summit, warning that EU leaders need to deliver a "massive" response to the economic fallout of the coronavirus pandemic. Duda's Win | Poland's governing party beat back the biggest threat to its nationalist transformation during its half-decade rule, with incumbent Andrzej Duda narrowly winning Sunday's presidential election. With another term and general elections three years away, Law & Justice can continue its drive to overhaul courts, education, media and other aspects of Polish life even as the EU denounces the changes. Budapest Curveball | Hungarian Prime Minister Viktor Orban is bolstering his negotiating arsenal with a parliamentary decree — set to be approved by lawmakers today — that would bar him from approving EU stimulus or the new multi-year budget unless the bloc closes probes into the rule of law in Hungary and Poland. While the decree leaves wiggle room for talks in Brussels, it shows he's increasingly serious about muting criticism of his tightening grip on power. Tech Rulings | EU judges will sign off for the summer this week with two blockbuster judgments involving Apple and Facebook. First up is a ruling tomorrow on the EU's 13 billion-euro Irish tax bill for the iPhone maker, followed by a binding judgment that could potentially upend the legality of the key tools used by companies to ship vast amounts of commercial data across the Atlantic. Virus Update | Hong Kong reported 41 new local cases and tightened social-distancing measures amid fears of a resurgence after weeks of near-normal activity. After pressure from unions and business lobbyists, face coverings will be compulsory in all shops in England, and Germany warned of the risk of a second wave of infections. Here's the latest. In Case You Missed It Turkey Tensions | The EU's top diplomat lashed out at Turkey for its plan to reconvert Istanbul's Hagia Sophia monument to a mosque, saying the move will stoke religious tensions. Speaking after a meeting of the bloc's foreign ministers, Josep Borrell also said Hong Kong's autonomy would be supported with a coordinated mix of EU-wide and national measures meant to counter China's new national-security law. Carbon Rally | Permits for EU carbon emissions rose above 30 euros a ton for the first time since 2006 as the bloc works to enact a sweeping overhaul to cut greenhouse-gas emissions. While actual emissions plunge this year, the price of permits has been seen to rise as speculative buyers bet on political efforts to cut pollution that could rely in part on the carbon trading system. Wirecard Links | The German government has come under pressure to reveal details of a conversation between the then-chief executive officer of Wirecard and a top finance ministry official seven months before it opened insolvency proceedings. The company's collapse dealt a blow to Germany's reputation as a bulwark of financial stability and opened questions about slack oversight in Europe's largest economy. Tax Threat | The EU may delay digital tax proposals to give countries more time to hammer out an international deal and avert a transatlantic trade war, a top official from the bloc said. An easing of the EU threat may relieve some of the pressure on the tense negotiations. U.K. Gambling | Businesses in Northern Ireland lack information on how to prepare for Brexit and will be at a disadvantage to rivals elsewhere in the U.K., a cross-party panel of lawmakers said in a report. "The government needs to stop gambling with the future of business and of the people of Northern Ireland," the chairman of the committee stop. Chart of the Day  Hunger and malnourishment are increasing around the world as the coronavirus crisis pushes more people into poverty and limits access to healthy diets, according to the United Nations. Climate change, conflict and economic downturns have exacerbated hunger in recent years, and outbreaks of crop-damaging desert locusts — particularly in Africa — have hurt economic prospects this year. Today's Agenda All times CET. - 11 a.m. Eurostat to release May industrial production reading
- 11:45 a.m. Portuguese Prime Minister Antonio Costa meets Hungarian Prime Minister Viktor Orban in Budapest
- 3:30 p.m. EU climate chief Frans Timmermans participates in an online policy briefing organized by the European Policy Center
- Bastille Day celebrations in France
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