| Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. The EU is controversially including Russian and Chinese vaccines in plans to ease travel for those who've received a shot. The bloc wants an "EU Covid Card" to allow states to reopen their borders, while preventing a coronavirus resurgence. It will comprise three digital and paper documents showing if the holder has gotten a vaccine and which one; the results of a coronavirus test; and whether they have recovered from Covid-19, according to a draft that we've seen. The proposal, due to be unveiled next week, is backed by countries reliant on tourism like Greece, which desperately want to revive their battered economies this summer. But some might be left with a sour taste in their mouths, arguing that these vaccines only approved in few nations, such as Hungary, are being used as propaganda tools.
—John Ainger and Alberto Nardelli What's HappeningTech Tax | The EU is set to go it alone on a plan to tax tech giants if there's a failure to agree on a global framework with partners including the U.S. by the middle of this year. At a summit this month, leaders will focus on the challenges created by digitalization of the economy, according to an early draft of the communique we've seen. Draghi's Test | European Central Bank officials are taking a leaf from former President Mario Draghi's playbook as they ask if recent market moves amount to "unwarranted tightening" that requires action. Officials start their two-day policy meeting today, divided over whether recent gains in government bond yields should be a source of concern. Export Bans | European Council President Charles Michel accused the U.K. of blocking exports of Covid-19 vaccines, prompting a vehement denial from the British government. Vaccines have become a flashpoint in the the fraught post-Brexit relationship as the EU's program -- dogged by delays -- has struggled to keep pace with the British.
Green Alliance | A renewed alliance between the U.S. and EU on climate issues could shift the dynamics of crucial global talks, encouraging China and other major polluters to step up their efforts to reduce emissions. That's according to U.S. climate envoy John Kerry, who was in town and talked to us after meeting the Commission's top brass. Green Rules | European efforts to define which investments are green and which aren't get a boost today, as new rules requiring fund managers to evaluate and disclose the environmental, social and corporate governance features of financial products go into effect. The rules demand disclosures on how sustainability risks affect investor returns and, conversely, how investments negatively impact sustainability factors such as climate change. In Case You Missed ItSputnik's Coming | Russia is pushing ahead with plans to make its Covid-19 vaccine in Europe, securing a deal to produce the Sputnik V shot in Italy and holding discussions on production in Germany and France, the president of the company that will make it told us. Here's your daily update on the battle against the coronavirus. Digital Sovereignty | The EU outlined the bloc's digital goals for the next decade, including plans to develop and manufacture the world's most advanced semiconductors by 2030 in an effort to reduce reliance on foreign companies for critical technological components. The bloc wants to produce at least 20% of the world's semiconductors by that date.
SURE Thing | The global debt rout is doing nothing to damp investor demand for the EU's own borrowing plans. The bloc combined its triple A credit status with a social bond label to once again rack up orders for bonds whose proceeds will be used to finance a jobs program. Italian Subsidies | The Italian government is planning to allocate about 10 billion euros to extend support for the labor market as officials weigh new restrictions on activity to counter a virus surge. It's part of Prime Minister Mario Draghi's first package that could be ready as soon as this week. Polish Doubts | In contrast, Poland's recovery hopes have hit a roadblock. A junior ruling party said it won't ratify the European Union's covid-relief fund, which may force Prime Minister Mateusz Morawiecki to rely on opposition support to pass the 750 billion-euro package. Chart of the Day A U.S. recovery turbocharged by President Joe Biden's stimulus package will help power a faster than expected global economic upswing that risks leaving Europe behind, according to OECD forecasts. The Paris-based organization said it now expects global output to rise above pre-pandemic levels by mid-2021 after major economies showed greater resilience at the end of 2020, and as evidence of vaccine efficacy grows and governments add stimulus measures. It raised its world growth forecast for 2021 to 5.6% from 4.2% and more than doubled its prediction for the U.S. to 6.5%. Today's AgendaAll times CET. - 11 a.m. EU foreign policy chief Borrell and EU Commissioner Lenarčič press conference on the outlook for the EU's humanitarian action in light of COVID-19
- 1 p.m. European Parliament President Sassoli, Portuguese Prime Minister Costa and European Commission President von der Leyen sign declaration on future of Europe
- MEPs discuss recent findings by investigative journalists and ways to stop tax avoidance in the EU following the OpenLux revelations
- MEPs debate with Council and Commission "the attempts by Polish, Hungarian and Slovenian authorities to silence independent media"
- MEPs set to call for carbon levy on EU imports to raise global climate ambition
- French National Assembly debates Emmanuel Macron's plan to add environmental protections to the constitution via a referendum
- Russian President Putin speaks to Turkey's Erdogan by video link at groundbreaking for Russian-built nuclear plant
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