Brussels Edition: What does all this mean for us?

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. As the sun rises in Brussels, the EU still doesn't know who it will be dealing with across the Atlantic for the next four years ― and may not know for a few more hours, or even days, as the vote-count drags on. The U.S. election has not proved to be the Joe Biden landslide that some were predicting, and Donald Trump's strong showing in key states highlights how America remains a deeply divided country. If the incumbent wins a second term, Brussels will be forced to rethink its strategic partnership with its closest ally. It may also reinforce efforts to push the bloc to develop its "strategic autonomy." If Biden emerges victorious, however, the EU can legitimately hope that the new president will swiftly move to rebuild the frayed transatlantic alliance. But the chaos of the past four years, coupled with the mismanagement of the pandemic, leave little doubt that the long-time pillar of the "free world" isn't as reliable a partner as it once was ― and Europe will have to adapt accordingly. Follow our live updates as the results come in here. — Nikos Chrysoloras What's Happening Taking Stock | EU and U.K. negotiators, working in Brussels since last week, will pause trade talks today to give Michel Barnier a chance to brief the bloc's ambassadors and to let both sides regroup before a final push for a deal, probably in London from Sunday. Separately, the commission said yesterday it's considering taking the next step in legal proceedings against Britain for its planned breach of the Brexit divorce deal. Covid Debt | EU finance ministers will get a chance to discuss their strategy for dealing with bad loans resulting from the coronavirus crisis when they hold virtual talks today. It's probably too early for big decisions, but supervisors such as the ECB's Andrea Enria have been sounding the alarm about the issue, and the prospect of a double-dip recession makes the problem more acute. German Greenwashing | Germany is raising new environmental debt to finance previous federal spending, prompting critics to say the label is misleading. The practice of greenwashing, where the environmental benefit of an investment is exaggerated or misrepresented, is in focus as appetite grows for strategies that take environmental, social and governance factors into account. Virus Update | Countries in eastern Europe suffered their deadliest days of the pandemic. Swedes face a new wave of restrictions after daily cases hit a record, and French fatalities are also rising. Here's the latest on the pandemic ravaging Europe and the world. In Case You Missed It Orban's Tactics | First, the Hungarian government blocks Budapest Airport from accessing emergency Covid-19 funding from the European Bank for Reconstruction and Development. Then allies of Prime Minister Viktor Orban make an unsolicited purchase offer to buy it. Our exclusive from Budapest. Polish Protests | Poland's government is stalling the implementation of a court ruling that effectively bans abortion amid some of the biggest street protests since the fall of Communism. The standoff with the women-led protesters has become a critical moment for the ruling Law & Justice party that's been taking control over all facets of society. Dutch Conspiracies | The Netherlands long enjoyed a relatively relaxed political culture by the standards of Europe or America, with the prime minister famously photographed riding his bicycle to work. But that openness is changing, as an ever-increasing number of Dutch fall for conspiracy theories. Ukrainian Graft | The EU urged Ukraine to "rapidly restore" legislation on electronic asset declarations after the country's Constitutional Court struck down key anti-corruption measures in a blow to the country's efforts to restore the flow of foreign aid. Backsliding on anti-graft efforts could also endanger Ukraine's visa-free regime with the EU. German Cost | The projected cost of building Germany's green power "autobahn" is steadily climbing, saddling consumers with ever-increasing electricity bills. The government is building four high-voltage power lines linking wind and solar parks in the north with industrial centers in the south. Who said that saving the planet would come cheap? Chart of the Day One in 20 Europeans report not getting enough sunlight in their homes, according to a Eurostat survey, raising concerns as countries across the region go into new lockdowns to combat the coronavirus pandemic. Combined with shorter winter days, lack of sunlight could increase seasonal depression for those in isolation, affecting their long-term health and productivity. Today's Agenda All times CET. 10:30 a.m. EU finance ministers hold video conference, to discuss preventing money laundering and terrorism financing, and non-performing loans 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. How are we doing? We want to hear what you think about this newsletter. Let our Brussels bureau chief know.   Before it's here, it's on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can't find anywhere else. Learn more.   You received this message because you are subscribed to Bloomberg's Brussels Edition newsletter. 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