| Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. Most draft national spending plans for the use of the EU's recovery fund still need a lot of work to be in shape for approval, and countries have yet to ratify the decision that will allow the Commission to raise debt in capital markets to finance the package. Some are worried that Poland and Hungary may even use the ratification process as leverage in their spat with the bloc's executive arm over the rule-of-law conditions for the disbursement of the cash. The ECB is concerned about the risk of delays and also that the EU's recovery package is insufficient, Alexander Weber reports. Such concerns may also be raised by some leaders at their virtual summit on Friday and could dominate the agenda of the next couple of months in Brussels. All this contrasts sharply with the U.S., where stimulus checks are being distributed directly to citizens and inoculations are progressing much faster. — Nikos Chrysoloras What's HappeningVaccine Wars | As the EU tries to ramp up its sluggish vaccine campaign and the U.K. contends with a supply bottleneck, every dose counts. The EU will probably reject AstraZeneca vaccine exports to the U.K. until the drugmaker fulfills its delivery obligations to the bloc, a senior EU official told us last night. Meanwhile, Commissioner Thierry Breton signaled the bloc doesn't need Russia's Sputnik V shot. Sanctions Day | EU foreign ministers are expected to sign off on a slate of punitive measures today over human rights abuses, including sanctions directed at Chinese nationals. Beijing has vowed to react, though some diplomats in Brussels are confident that the last thing China wants is an escalation that would push the EU to line up behind Joe Biden's administration. Turkish Turmoil | EU foreign ministers will also discuss options for a rapprochement with Turkey, but what is being said in Brussels today should be the least of Ankara's worries. The lira is tanking and markets are in turmoil this morning after President Recep Tayyip Erdogan's shock decision to replace the country's central-bank chief. Again. Dirty Farming | The EU's flagship agricultural policy risks undermining the bloc's net-zero climate targets because it supports high-polluting food industries, according to a group of investors and policy experts. Reforms to the Common Agriculture Policy don't go far enough to address climate change and biodiversity, investors managing 2 trillion euros of assets say. Agnieszka de Sousa has the details. German Limits | Chancellor Angela Merkel proposed keeping German lockdown restrictions in force for another four weeks after Covid-19 cases rose beyond a level that may prompt government action to avoid health-care overload. The plan would extend existing curbs through April 18, according to a chancellery draft prepared for a meeting with state leaders today. In Case You Missed ItMacron Slips | Emmanuel Macron's popularity rate fell 4 percentage points from a month earlier, with 37% people saying they are satisfied with the president, according to an IFOP poll for French newspaper Journal du Dimanche. Meanwhile, Paris Mayor Anne Hidalgo said she aims to rally left-wing allies to run against Macron in the 2022 presidential election. Loan Losses | The EU's top banking regulator urged lenders to promptly write off loans that are failing in the aftermath of the pandemic, warning that without action "zombie" firms could damage a recovery. Here's our interview with Jose Manuel Campa, chairman of the European Banking Authority, where he warns that non-performing loans will "increase to a significant amount" in coming quarters. Holiday Bets | European travel and leisure stocks have rallied as investors bet that the first thing we're going to do once we're allowed to leave our homes will be to get on a plane. We all hope their bet on big, long holidays pays off, but will it? We have some answers. Snubbing Orban | Viktor Orban's moves against the LGBTQ community are meant to fire up voters in the run-up to elections next year, but they aren't resonating with the majority of Hungarians. Zoltan Simon reports how same-sex parenthood draws unexpected support in Hungary. Green Chic | Saving the planet doesn't need to entail self-deprivation. A 46-year-old Danish architect is on a mission to transform ugly, environmentally suspect sites into architectural wonders that make the planet a cleaner, safer place. Check out what he's done with a waste-to-energy plant that's been turned into a ski slope. Chart of the Day The EU must honor its vaccine contracts even as the sluggish rollout puts pressure on governments, U.K. Defense Secretary Ben Wallace said. Additional curbs on vaccine exports is one of the key topics in this week's summit of EU leaders. Today's AgendaAll times CET. - 9:30 a.m. EU Foreign Affairs ministers meet in Brussels
- 10 a.m. EU agriculture ministers meet in Brussels and aim to reach an agreement on fishing opportunities
- 1 p.m. NATO Secretary General Jens Stoltenberg will brief the press ahead of the meeting of the NATO foreign affairs ministers
- 1:15 p.m. Press conference following informal video conference of EU industry ministers to discuss strategic autonomy
- 2 p.m. German Chancellor Merkel and regional leaders meet to assess lockdown measures
- 4 p.m. Douglas D. Jones, charge d'affaires at U.S. Permanent Representative to NATO, briefs media in Brussels
- EU foreign policy chief Josep Borrell meets Turkish Foreign Minister Mevlut Cavusoglu
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