| Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. European Central Bank officials will have to decide at their meeting today whether rising government-bond yields across the globe threaten the region's virus-stricken economy. While some of them argued in recent weeks that the market development is no cause for concern if it reflects a better outlook, others seemed more alarmed. ECB President Christine Lagarde is expected to explain who presented the better arguments, and how the central bank will react if investors push yields even higher. So far, bond purchases under the ECB's flagship pandemic program have barely picked up despite its much-touted flexibility. Economists don't expect any changes to interest rates or the size of asset purchases, and they have mixed views on how the ECB will change its newest economic forecast, which is also due today. — Alexander Weber and Nikos Chrysoloras What's HappeningVaccine Approval | The European Medicines Agency will most likely approve Johnson & Johnson's single-dose coronavirus vaccine today (you read it first here). It will be the fourth shot approved to tackle the pandemic. That's the good news. The bad news is that doubts linger over the start and pace of deliveries. Vaccine Exports | The EU had exported 34 million vaccine doses to 31 countries as of Monday, even as member states still struggle with supply shortages. And yet it has looked like the bad protectionist, in what will likely be taught as a case study in mismanaging communications. The bloc's secrecy hasn't helped either, so here are the numbers shared with diplomats. After Merkel | In a state election on Sunday, the Greens look set to secure a third term running Baden-Wuerttemberg — an industrial powerhouse in Germany's southwest known for fast cars and cuckoo clocks. Current polls suggest Angela Merkel's Christian Democratic Union is on track for its worst performance ever in the state. The result could offer clues about the country's post-Merkel future. Polluting Costs | The price of permits to pollute in the EU is breaking new records day after day. While this is in theory good news, as it forces around 12,000 companies in the bloc to adopt cleaner technologies, excessive speculation in the carbon market has raised concerns that the competitiveness of European industry may suffer. In Case You Missed ItData Sharing | Joe Biden's administration brings opportunities to revamp the transatlantic data transfer system without "disproportionate interferences with people's privacy," Commission Vice-President Vera Jourova said. Her comments follow a decision by the bloc's top court to strike down the "Privacy Shield," an EU-backed tool that thousands of companies relied on amid fears of U.S. surveillance. TikTok Concerns | The main data-protection watchdog in the EU warned that TikTok, the Chinese-owned video-sharing app, may be sending some European user data to China. The app is already facing scrutiny in the EU over how it handles children's personal information. Italian Limits | Italy's Matteo Salvini hinted at an early end to Mario Draghi's term in office and indicated the prime minister could be a candidate for head of state when that job becomes available early next year. Here's our interview with the Italian right-wing leader. Spanish Gift | Prime Minister Pedro Sanchez was given an unexpected boost yesterday as a burst of infighting among the Spanish right put one of his biggest critics at risk. The 49-year-old socialist had been betting on a couple years of relative calm to focus on rebuilding an economy that has been ravaged by the coronavirus pandemic. Road to Nowhere | The EU must set a date to phase out the sale of new petrol and diesel cars so that the region meets its aim of becoming climate-neutral, according to nine member states. Europe must give a clear signal to manufacturers, fleet owners and consumers to accelerate the shift to electric vehicles, the group of member states said. Chart of the Day Prime Minister Boris Johnson waded into the increasingly heated row between the U.K. and the EU over vaccine nationalism, saying Britain hasn't blocked the export of a single dose to the bloc. The spat risks souring relations amid a wider dispute over Brexit trade rules that could end up in legal action. Who's right, and who's wrong? Today's AgendaAll times CET. - 9:05 a.m. In a discussion with Commissioner Johannes Hahn, MEPs are expected to call on the Commission to use the new mechanism against breaches of the rule of law without delay, stripping Hungary and Poland of EU budget funds
- 2:30 p.m. Press conference following Governing Council of the ECB monetary policy meeting
- EMA set to recommend market authorization of J&J vaccine
- Informal video conference of EU justice ministers
- MEPs expected to call for the EU to be an "LGBTIQ Freedom Zone" in response to Poland's "LGBTIQ-free zones"
- EU health chief Stella Kyriakides holds a video call with health ministers from the European People's Party
- Portugal to present plan on gradual easing of confinement measures
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. | 
Post a Comment