Brussels Edition: Europe First

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. Today could prove pivotal in the EU's fight to overcome its vaccine turmoil. As member states grapple with shortfalls in supplies from drugmakers including AstraZeneca, the European Commission will start requiring companies seeking to ship the jabs outside the bloc to request authorization. The dramatic move in effect establishes a "Europe first" system for deliveries. Separately, today could also see the European Medicines Agency recommend the Astra shot for use. Meanwhile, Council President Charles Michel raised the prospect of effectively seizing control of vaccine production if the Commission's measures fail to get the program back on track. — Ian Wishart What's Happening Shutting the Door | Separate from the Commission's plan, Belgium notified the EU's executive arm about a draft law, seeking permission to limit the exports of essential medicines and active ingredients, according to people familiar with the matter. That request cites the bloc's urgency procedures, which allow crisis measures for the protection of human health. Existential Threat | When does the EU's chaotic vaccine roll-out start causing the bloc long-term damage? We look at where it all went wrong, and where it could lead.  Set Free | Tom Hayes, the former UBS and Citigroup trader who became the face of the Libor scandal, is set to be released from prison today after nearly six years. Hayes, 41, was the most high-profile conviction in a crackdown on the rigging of the London interbank offered rate in the wake of the financial crisis a decade ago.   Cash Objection | Ryanair is seeking to shoot down Germany's multibillion euro bailout for Lufthansa, asking an EU court to cancel the bloc's approval. Germany's 6 billion-euro recapitalization and a state guarantee for a 3 billion-euro loan "discriminates unlawfully between EU airlines," the Irish carrier said. In Case You Missed It Help Extension | The EU's looser subsidy rules were extended to Dec. 31, allowing governments to give higher amounts of aid to support businesses as the Covid-19 pandemic continues. Limits for how much most companies can receive in state aid have been "effectively doubled" to 1.8 million euros. In the Balance | Euro-area governments could boost the region's economy by as much as 1.5% — or next to nothing — depending on how they spend the bloc's groundbreaking stimulus package, according to European Central Bank research. House Fight | Billionaire Roman Abramovich, Russian airline Aeroflot and the U.K. treasury are among creditors who stand to gain from a legal tussle to lift the confiscation of a 100 million-euro French Riviera mansion that once belonged to oligarch Boris Berezovsky. Bloomberg's Gaspard Sebag has the full story.  No Relaxation | The U.K. government scrapped a review into workers' rights after Brexit following criticism from opposition politicians and pressure from trade unions. Meanwhile, business lobby groups told Cabinet Minister Michael Gove that British companies face "substantial" difficulties in trading with the EU. Chart of the Day It's not just post-Brexit trade that's causing tension in U.K.-EU relations, there's also the supply of vaccines, especially the one made by AstraZeneca. A significant portion of coronavirus shots are produced inside the EU, but much of the output is destined for elsewhere and that's leading to calls within the EU for greater transparency — and thus more bureaucracy — on where it's headed. Today's Agenda EMA due to decide on AstraZeneca vaccine recommendation EU climate chief Frans Timmermans, EU trade chief Valdis Dombrovskis participate in the Davos Agenda sessions Videoconference call with the G-7 health ministers 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. You received this message because you are subscribed to Bloomberg's Brussels Edition newsletter. Unsubscribe | Bloomberg.com | Contact Us Bloomberg L.P. 731 Lexington, New York, NY, 10022