Brussels Edition: The Brexit endgame

Follow Us Get the newsletter Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. Negotiations between the EU and the U.K. have been continuing virtually since Thursday when a senior member of the bloc's team tested positive for the coronavirus. Officials said this will slow down but shouldn't scupper an eventual deal on the future trading and security relationship, and both sides are now upbeat about their chances of success. Face-to-face talks should resume in London around the middle of this week amid hopes an agreement can be struck in the following few days. Boris Johnson still holds the key. Britain needs to accept EU conditions, particularly over the level playing field for business, and the prime minister has yet to give the final nod. — Ian Wishart and Nikos Chrysoloras What's Happening Rule of Law | Poland says it's blocking the EU budget and stimulus package because the proposed rule-of-law provisions are a first step to forcing it to accept gay marriage. While this may not be true, such arguments come as no surprise from a country where homosexuality is often depicted as an "ideology" backed by the EU that needs to be eradicated. This is how the Polish LGBTQ community has to live a life in fear. Populism's Roots | The bitter quarrel over rule-of-law standards begs the question whether the EU can survive as a community of democracies. Read this Q&A from our columnist Andreas Kluth with historian Timothy Garton Ash on the roots of populist discontent in Hungary and Poland and the threat it poses to the future of the EU. Debt Legacy | Well after the coronavirus pandemic has passed, Europe could find the most damaging economic legacy is not the vast piles of government debt, but the hundreds of billions in liabilities that have landed on companies. This dispatch explains why Europe's corporate-debt binge risks bringing years of pain. Sarkozy on Trial | Nicolas Sarkozy's corruption trial is scheduled to begin today in Paris over allegations he promised to help an official land a prestigious Monaco court job in exchange for covert aid in a legal fight. Sarkozy is only the second former French president to go on trial in modern times, and the first over corruption accusations.  Virus Update | France plans to ease its lockdown in three steps as infections recede, while keeping some restrictions in place to contain the epidemic. The Italian economy is at risk of a second recession, industry lobby Confindustria warns.  In Case You Missed It Green Investment | Efforts to slow global warming through renewable energy and electrification are creating new ways to make money in Europe's $430 billion power market. Stricter climate targets are spurring investment in wind turbines, solar panels and battery systems. Bloomberg Intelligence estimates the market may almost double in the next 10 years. Green Power | Germany's Green party opened its bid to succeed Chancellor Angela Merkel and win next year's election with a manifesto that seeks to broaden its appeal among mainstream voters. Here are the details on what delegates decided over a virtual party convention this weekend, including a 500 billion-euro green spending plan.  G-20 Takeaways | World leaders urged countries not to lose sight of climate goals in the coronavirus pandemic, endorsing the aims of the Paris agreement amid hopes that U.S. President-elect Joe Biden will rejoin the accord. Our main takeaways from the virtual Group of 20 summit.  Erdogan's Message | "We see ourselves in Europe, not anywhere else, and we want to build our future with Europe," Turkish President Recep Tayyip Erdogan said this weekend, urging the EU to keep its promises and avoid discrimination. EU leaders will discuss the future of the bloc's relations with Ankara at their summit in December.  Streaming Santa | The bane of Europe's traditional retail stores over the past decade — the internet — is now the thing they're clinging to for survival. Retailers across the continent are racing to expand click-and-collect services and home delivery in a bid to keep Amazon from monopolizing their most important season. They're even trying video calls with Santa.  Chart of the Day Malta's government named Edward Scicluna governor of the country's central bank from Jan. 1, making him the latest finance minister to join the ranks of the European Central Bank's Governing Council. In addition to the Greek, Portuguese and Slovakian rate setters, two of the six Executive Board members — President Christine Lagarde and Vice President Luis de Guindos — were also previously finance chiefs of their countries. Today's Agenda All times CET. 12:45 p.m. European Environment Agency press conference on the 2020 report on air quality 3 p.m. NATO Secretary General Jens Stoltenberg speaks at annual session of the NATO Parliamentary Assembly Negotiations for a post-Brexit trade accord continue Video conference of EU's development ministers EU industry chief Thierry Breton speaks at an event organized by the French Data Protection Authority (CNIL) Former French President Nicolas Sarkozy faces his first criminal trial in France Like the Brussels Edition? Don't keep it to yourself. Colleagues and friends can sign up here. For even more: Subscribe to Bloomberg.com for unlimited access to trusted, data-driven journalism and gain expert analysis from exclusive subscriber-only newsletters. 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