| Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union.
Mario Draghi will likely be given the unenviable task today of forming a new government in Italy. President Sergio Mattarella's pending appointment of the former ECB chief to run the country during the pandemic and at a time of economic devastation will hopefully put an end to the political intrigue that has left Italy's decision-making hampered at a critical hour. Markets like the move, with the euro rising last night on the news. EU leaders will surely be just as happy. After all, last time they were all together with Draghi, they gave him a standing ovation.
— Nikos Chrysoloras and Viktoria Dendrinou What's HappeningSteep Bill | The EU's bungled vaccine rollout could end up costing 12 billion euros every week in lost output if the bloc doesn't manage to catch up with peers such as the U.K. or the U.S., according to Bloomberg Economics. Much of the pain would fall on southern Europe as this year's travel season comes under threat, while further delays also risk pushing companies with stretched finances over the edge.
Future Ministers | The future is getting its very own EU ministers. The Commission asked each government to appoint a "minister of the future," according to a letter sent last month which we've seen. All 27 will gather informally at least once a year to look into their crystal balls. In EU parlance, it's called "Strategic Foresight." Beating Cancer | As debate continues to rage about the effectiveness of its healthcare policies amid the pandemic, the EU today presents its latest plan for beating cancer. It will include 10 landmark initiatives, and more than 70 policy pledges in total, from reducing inequalities in cancer treatment between member states and regions to the creation of an EU network of youth cancer survivors. Rising Prices | Inflation figures due today will probably show that prices in the euro area rose for the first time in six months, partly due to the reversal of tax cuts meant to stimulate demand during the pandemic. While welcome news for the ECB, the medium-term outlook for prices in the currency bloc still looks weak and well below the institution's goal. In Case You Missed ItFresh Air | The EU has taken several member nations to task in recent years for not doing enough to tackle air pollution. Some of these cases have ended up in the EU's top court, which has already sided with the Commission against France and Italy. Today, it's Hungary's turn to find out whether it "systematically" failed to meet EU rules, as the Commission said in its 2018 lawsuit. Vaccine Surge | The EU predicted a surge in the domestic supply of Covid-19 vaccines during the second quarter, a hopeful estimate that came as the commission sought to tamp down criticism of its vaccination strategy. Commission President Ursula von der Leyen moved to lower the temperature in Brussels last night by telling EU lawmakers she takes responsibility for her institution's botched handling of export controls on vaccines, according a person who took part in the private meeting.
Talking Ireland | Commission Vice President Maros Sefcovic will try to find a solution to problems emerging with Brexit checks at Northern Ireland ports when he speaks today to U.K. Cabinet Secretary Michael Gove. Authorities withdrew staff over security concerns linked to their work implementing the Irish Protocol, which effectively draws a customs border in the Irish Sea. Nuclear Deal | Iran's foreign minister urged the EU to take a lead role in bridging differences with the U.S. over how the two countries revive the beleaguered 2015 nuclear deal. His call comes as the Biden administration is keen to rehabilitate the accord, but says Tehran first needs to return its nuclear activity to within limits. Chart of the Day The longer work hours that came last year with working from home has become the new normal in many countries. The number of hours people are logged on has fallen back toward pre-pandemic levels in only Belgium, Denmark, France and Spain, according to data from virtual private network service provider NordVPN Teams. The U.K., Austria, Canada and U.S. have seen a sustained 2 1/2 hour increase to the average day. Today's AgendaAll times CET. -
9:30 a.m. EU court rules in challenge by European Commission against Hungary over air quality -
12:00 p.m. Mario Draghi meets Italian President Sergio Mattarella to discuss forming a new government -
Informal video conference of research ministers -
European Commission unveils "Europe's beating cancer plan" -
Euro-area services PMI (final), Eurostat publishes flash inflation data -
German Economy Minister Peter Altmaier, French Finance Minister Bruno Le Maire, Deutsche Bank CEO Christian Sewing speak at Europe forum 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. | 
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