| Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. At least the EU and the U.K. have agreed to keep talking. Expect another three months of tough negotiating after the bloc granted a longer grace period in what the British media love to call the Brexit "sausage wars." The extension over British companies selling chilled meats to Northern Ireland isn't "a blank check," cautioned Maros Sefcovic, the bloc's lead negotiator. Both Sefcovic and U.K. Brexit Minister David Frost urged a permanent solution. The EU's olive branch on trading rules includes offering to change its legislation to ensure the free flow of medicines into Northern Ireland. Meanwhile, the U.K. government unveiled a system for overseeing subsidies to companies, promising decisions will come faster than when Britain was in the EU. — John Follain What's HappeningTarget Greenwashing | The Commission is preparing tighter measures on banks and credit rating agencies to prevent "greenwashing" and reduce systemic risks from climate change, according to a draft document we've seen. The strategy will propose stricter reporting requirements, and incorporating climate-related risks into credit ratings and bank capital requirements. Pension Tussle | French President Emmanuel Macron could revive a controversial pension reform as he prepares to unveil his priorities for the rest of his mandate — and ahead of 2022 elections. We're told Macron is set to address the nation some time during the first couple weeks of this month, probably before Bastille Day on July 14. Carbon Shield | The Commission is drawing up a mechanism to protect its planned emissions market for heating and road-transport fuels from excessive price swings. A draft law proposes creating a new pollution trading system for buildings and vehicles — part of an overhaul to align the economy to a stricter 2030 climate goal. Atomic Nerves | Diplomats negotiating for months over Iran's nuclear program tell us that nerves are fraying. The envoys face the prospect of new delays and a rising risk that they'll fail to resurrect a landmark deal — a prospect closely-watched by energy markets because of Iranian oil. In Case You Missed ItGerman Promises | Wondering what kind of coalition could emerge from Germany's election? Here's our primer on where the main parties stand on the things voters care about most — from taxes to housing, the EU and climate. Spare Shots | The EU's eastern corner is wondering what to do with spare Covid-19 vaccines. Bulgaria and Romania — where distrust in the authorities and skepticism about vaccines has slowed the inoculation process — are looking to delay new supplies and to donate or sell expiring quantities. The alternative would be to destroy them. Meet Putin | EU leaders should only meet Vladimir Putin bilaterally, because a summit would give the impression that "things have returned to business as usual," Estonian President Kersti Kaljulaid told Bloomberg TV. She spoke after member states rejected a Franco-German proposal for a summit between the bloc and the Russian president . Power Problem | Switzerland's power sector has become the latest battleground for the EU after the country refused to sign an agreement governing practically all its relations with the bloc. The Swiss won't be allowed to participate in the region's power-market coupling and, starting July 1, its certificates of origin, showing electricity bought and sold is generated from a renewable source, won't be accepted. Tourism Slump | Covid-19's impact on tourism will cost the global economy more than $4 trillion for 2020 and 2021, as a patchy vaccination rollout crushes developing countries. The world may not see a return to pre-pandemic arrivals of international tourists until 2023, according to the UN Conference on Trade and Development. Chart of the Day German joblessness slid for a second straight month in June, signaling a robust recovery as falling coronavirus infections allow shops, restaurants and cultural venues to reopen. The decline of 38,000 was almost twice as high as expectations and put the total number of unemployed at 2.69 million. Today's AgendaAll times CET. - 9 a.m. European Central Bank President Christine Lagarde, ECB Supervisory Board Chair Andrea Enria and Single Resolution Board Chairperson Elke König appear before a European Parliament committee to address risks of mass insolvencies as pandemic support is withdrawn
- 2 p.m. European Medicines Agency regular news conference on Covid-19
- The EU plans to lift quarantine rules for vaccinated travelers and to accept digital passports
- Commission President Ursula von der Leyen visits Slovenia in relation to the recovery and resilience facility; the country also assumes the presidency of the EU today
- German Finance Minister Olaf Scholz meets U.S. Treasury Secretary Janet Yellen in Washington
- European Parliament committee votes on a motion for a resolution on the consequences of MeToo and harassment for EU institutions
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