| Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. The EU's top court will rule on the legality of Hungarian Prime Minister Viktor Orban's crackdown on a foreign university founded by his nemesis, the Budapest-born U.S. investor and philanthropist George Soros. But even if, as expected, justices back a non-binding opinion from March claiming Hungary broke the law when it tightened rules on foreign colleges in 2017 in a way that barred Central European University from enrolling new students, the verdict may be a Pyrrhic victory. CEU — a training ground in liberal democracy, which Orban has come to despise — was already forced to move its main campus to Vienna. And Orban has since extended his influence over other universities in Hungary, just as he has done so over parts of the courts and the media. The EU is belatedly trying to get its act together by tying recovery funds to rule-of-law criteria, but no final deal has been reached and Orban is desperate to torpedo it. A toothless EU is worth a lot of money for those trying to skirt its rules. — Zoltan Simon and Stephanie Bodoni What's Happening More support | Spain is prepared to extend its furlough program beyond January, Social Security Minister Jose Luis Escriva told us, in the clearest statement yet on the future of the wage-support policy. A further extension could protect hundreds of thousands of at-risk jobs in a country that's been hit hard by the pandemic and already has one of the region's highest unemployment rates. Travel Curbs | The EU's battered aviation industry may soon get some relief from the confusing travel curbs across the continent, as the bloc's governments seek agreement on a common threshold for imposing restrictions. The German presidency of the EU has circulated a compromise proposal to be discussed this week, and we have the draft. Balkan Bucks | The Commission plans today to announce a multibillion-euro investment package for western Balkan states seeking to join the EU, focusing on energy, transport and digital infrastructure. The push to bolster Albania, Bosnia, Kosovo, Montenegro, North Macedonia and Serbia will coincide with the annual reports on efforts by the countries to meet the bloc's entry standards. Controlling Spies | A ruling by the EU's top court today on whether security agencies can have unfettered access to phone and internet users' data could significantly curb the powers of spies in France and elsewhere in the 27-nation bloc. The January opinion of the Court's adviser said such mass interception is only allowed in a "limited and discriminate" manner. Green Targets | Those who fear we haven't grasped the urgency of the climate crisis may have one more reason to be disappointed next week. A draft of the summit's conclusions shows that EU leaders won't yet endorse a proposed stricter emissions target for 2030. Assuming no changes in the wording, the next chance for the EU to up its climate game is December's summit. In Case You Missed It ECB Board | Frank Elderson is on course to become the first Dutchman in 17 years to serve on the European Central Bank's top policy team after he prevailed over his Slovenian rival for the job. Finance ministers will confirm the pick today, which will likely come with a second role as the vice-chair of the ECB's banking supervision arm. U.K. Reckoning | The U.K. economy was overdue a reckoning. The pandemic has just exposed the cracks that were already appearing in the model that came out of the tumultuous overhaul of the 1980s. Now, the labor market is about to go through a shock not seen in a generation. Italian Economy | Not that things look any better in Italy. The government in Rome is starting to plan for what could happen to its economy if the coronavirus pandemic worsens significantly. In a worst-case scenario, the Italy sees GDP dropping 10.5% this year and expanding only 1.8% next year. Exxon's Emissions | Exxon Mobil has been planning to increase annual carbon-dioxide emissions by as much as the output of Greece (yes, we mean the entire country), an analysis of internal documents reviewed by Bloomberg shows. That pits one of the largest corporate emitters against international efforts to slow the pace of warming. Romanian Boost | The EU state with the worst infrastructure is building train lines and roads at the fastest pace since communism collapsed to help counter the economic chaos wrought by Covid-19. Here's how Romania is finally addressing an issue that's long been a gripe for companies and a reason citizens leave to the continent's richer west. Chart of the Day  Germany was the only euro-area country to record solid economic growth in September, with much of the rest of the region suffering amid weakness in services. It's a two-speed Europe, Jana Randow explains. Today's Agenda All times CET. - 9 a.m. The EU's top court rules on the legality of a U.K. law that obliges telecommunications companies to provide security and intelligence agencies "with bulk communication data"
- 9 a.m. The EU's top court rules on the Commission's suit claiming Hungary's crackdown on foreign-funded colleges such as the George Soros-linked Central European University violates EU rules
- 9:15 a.m. European Parliament debate on the outcome of last week's summit with Council President Charles Michel
- 10 a.m. Video conference of EU's economics and finance ministers to discuss the recovery fund, digital finance, capital markets union and nominate ECB executive board member
- 10:45 a.m. NATO Secretary General Jens Stoltenberg and Greek Prime Minister Kyriakos Mistotakis give joint press conference in Athens
- 3:30 p.m. EU institution leaders' summit with Ukrainian President Volodymyr Zelenskiy in Brussels
- 4:30 p.m. EU Commissioner for Justice Didier Reynders gives speech on rule-of-law at EPC event
- EU energy ministers' video conference
- Commission presents proposal on an economic and investment plan for the Western Balkans, assessment of enlargement process, Roma strategic framework for equality, inclusion and participation
- The race to lead the WTO will enter its final stage when the field is cut to two female candidates
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