| Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. In the wake of a U.S. crackdown on tech giants from Facebook to Google, Silicon Valley is set to face a fresh onslaught from its old nemesis: the EU. Under sweeping new rules to be proposed today (here's the draft we saw), tech companies deemed to be gatekeepers could face fines as high as 10% of annual revenues if they don't comply with a set of obligations, and repeat offenders could be forced to divest businesses. Separate legislation would also threaten fines if tech platforms don't comply with orders to remove illegal posts. The proposed rules, which could bring major changes to how tech giants operate in Europe, are likely to face aggressive lobbying before they're approved and enter into force. — Natalia Drozdiak and Viktoria Dendrinou What's HappeningMaybe Soon | Talks for a post-Brexit trade deal continue, and EU chief negotiator Michel Barnier sounded a little more upbeat, telling a meeting of ambassadors yesterday that one could come as soon as this week. But there are still significant differences to be bridged, with the U.K. now pushing the bloc to soften its demands on fisheries. Catching Fish | While on the subject of fish, Brussels aficionados know well that the longest and most dramatic gathering in this city is the December council of EU agriculture ministers to allocate fishing opportunities. The meeting today has an added wrinkle with around 100 North Sea stocks to be found in waters shared with the U.K. Hack Attack | Government agencies are reviewing their computer systems for signs of security breaches, after a hacking campaign inserted malware in software updates from SolarWinds. The U.S. company, which sells technology to an extensive list of sensitive targets, has picked up contracts for European Parliament and NATO. Virus Update | The Netherlands imposed a strict five-week lockdown, joining Germany and other European governments in sharpening curbs on people and businesses to slow the rapid spread of the coronavirus. The moves risk another knock to battered economies even with the rollout of a vaccine tantalizingly close. Here's the latest. In Case You Missed ItECB Push | The ECB is ready to boost its emergency bond-buying program if needed, according to Executive Board member Fabio Panetta. His comments came after the ECB already decided last week to increase the size of its pandemic program and extend it for nine months in a bid to support the euro-area recovery. Italian Pledge | Italian Prime Minister Giuseppe Conte pledged to stick to expansionary policies even after the pandemic is over, as he struggles to shield a fragile and debt-plagued economy. Italy has deployed over 100 billion euros in stimulus spending so far to protect the country from the coronavirus fallout, pushing debt close to 160% of output. Counting Debt | EU debt should start showing up in national accounts so that the joint borrowing agreed during the pandemic doesn't obscure government finances, Germany's Bundesbank said. The controversial comments come weeks before the rollout of the bloc's 750 billion-euro recovery fund and follow massive spending by governments to keep companies and households afloat. Year in Review | It was the year we all want to forget. But we shouldn't. These are our best photos from 2020, when everything changed. And this is our annual jealousy list of the best stories that other media outfits wrote. Chart of the Day
 Migrant workers in the world's richest economies are earning 12.6% less than national workers, and the gap is widening, according to the International Labour Organization. Covid-19 has worsened the situation, widening the labor divide. Tens of millions of migrant workers lost their employment, as they were in manual jobs and unable to work remotely. Today's AgendaAll times CET. - 12:50 p.m. Press statements by NATO Secretary General Jens Stoltenberg and Commission President Ursula von der Leyen
- Von der Leyen meets Tedros Adhanom Ghebreyesus, director-general of the WHO
- The Commission unveils sweeping proposals to regulate tech giants, threatening large fines or business break-ups if they don't comply with a wide set of new obligations around their market power and content moderation
- EU's agriculture and fisheries ministers will aim to reach an agreement on the fishing opportunities for next year
- France's second stage of lockdown easing begins
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