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Brussels Edition: Zuckerberg's EU Networking

Published by Yahoo on Tue, 18 Feb 2020


(Bloomberg) -- Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. Sign up here to get it in your inbox every weekday morning.Weeks after Alphabet chief Sundar Pichai visited the European Union capital, Brussels is about to be treated to some more Silicon Valley star power. Facebook bossMark Zuckerberg is in towntoday to meet with senior officials to discuss new rules and regulations for the internet, two days before the the bloc unveils its plans to legislate artificial intelligence. He's unlikely to get the red-carpet treatment, with thesocial media giant continuingto fend off antitrust and privacy scrutiny over how it handles user data. Still, there's a good chance his visit to Brussels will be more pleasant than the last one, when he was taken to task by members of the European parliament over privacy issues.What's HappeningSophia Choice | EU foreign ministerswill try reviving their Operation Sophiamission aimed atenforcingan arms embargo in Libya. Use of the mission's warships has been suspended because of objections by Austria overwhere to disembarkrescued migrants. But prospects for progress at today's Brussels meeting remain bleak,with atop UNofficial even calling thearms embargo a 'joke.'No Stimulus| Euro-area finance ministers are poised to acknowledge their economy faces the danger of protracted malaise, though they'll likely stop short of calling for wholesale stimulus to address it. The lukewarm spending pledge may disappointECB officials who haveasked governments to step up, insisting monetary policy alone can't lift stubbornly low inflation.The Longest Days |This week's biggest spatwon't be about migration or stimulusbutthe EU's next seven-year budget, which leaders will discuss at an special summit starting Thursday 'and they can't even estimate when it will end. Today, EU Affairs ministerswill prepare for the marathon talks and debatea recent proposal by EU Council President Charles Michel that hasso far got little love from anyone.British Goals|U.K. chief Brexit negotiator David Frost will set out Britain's goals forits future relationship with the EUtoday in Brussels as the two sides prepare to thrash out an agreement before the end of the year. His speechcomes amid warnings of a fierce clash over future trade terms, and after Boris Johnson's office said the U.K. isn't seeking special treatment.Virus Impact| As morecoronavirus case areidentified, global policy makersare looking to Beijing for clues over the economicimpact of the outbreak.The fallout is expected to dominate talks at this week's G-20summit of finance ministers and central bankers in Riyadh as the broadpolicy directionfor many central banks and governments largelyhinges on China'sresponse totheeconomic shock.In Case You Missed ItAircraft Spat |A long-running transatlantic spat over Europeansubsidies toAirbus is back in focusafter the U.S. saidit will increase the tariff rateimposed on aircraft imported from the EUto 15% from 10% starting next month. The Trump administration will also make minor changes to a previously released product list, though Italy said it escaped higher tariffs after directly lobbyingWashington.Pipe Pressure|Donald Trump's top energy official said he's confident Russia won't be able to complete the Nord Stream 2 gas pipeline.Nord Stream 2has become a focus for transatlantic geopolitical tensions, with Trump assailingGermany for giving 'billions' to Russia for gas while it benefits from U.S. protection.Trying Again |Michel sought to build momentuminhis efforts to get Franceto finally backEU membership talks with NorthMacedoniaand Albania,hosting top representatives of western Balkan countries at a dinner in Brussels last night. His efforts come as the EU is seeking to revive the membership hopes of both countriesto avoid political instability in the region, and prevent a political vacuum that could play into the hands of Russia and China.IMF Warning |Kristalina Georgieva said the lack of deeper improvements in the global economic system is hindering what's already an 'anemic' outlook for growth. Speaking in a Bloomberg TV interview, theIMF chief warned that themonetary policy space is shrinking and the reliance on fiscal measures as well as on structural reforms to boost growth should bestronger.United Ireland| Following an unexpected election triumph, Sinn Fein's leader wasted little time in calling for a united Ireland, demanding a referendum on the matter within five years. Nearly a century after its partition, is Ireland's wave of nationalist fervor leading inexorably to a movement to unite one of the last divided countries in Europe' Not quite, writes Dara Doyle. Read why here.Chart of the DaySubzero ratesare in their sixth year in the euro zone, and the fatigue is especially evident in countries with strong savings cultures like Germany. Such unpopularity of negative monetary policy risks creating a political brake on the measure at a time when populism is focusing the minds of officials.Today's AgendaAll times CET.9 a.m. EU Commission President Ursula von der Leyen, EU trade chief Phil Hogan and Council President Michel hold meetings with U.S. House Speaker Nancy Pelosi 9:30 a.m. EU foreign ministers meet in Brussels to discuss the situation in the Middle East, Venezuela,Western Balkans andLibya 12 p.m.Polish Finance Minister Tadeusz Ko'ci'skitalks about EU taxpolicy at Bruegel event 3 p.m. Euro area finance ministers meet in Brussels to discusseconomic governance, euro area policy and outlook 3:30 p.m.Gibraltar Deputy Chief Minister Joseph Garciaspeaks on 'Brexit's other land border' in Brussels 4:30 p.m. European Affairs ministers meet to prepare extraordinary summit on the long-term budget Facebook CEO Zuckerberg visits Brussels, meets EU tech and antitrust chief Margrethe Vestager EU diplomatsdiscuss legislative actionsto impose sanctions against two Turkish nationals over Ankara's drilling activities off coast of Cyprus Johnson's EU sherpaFrost gives lecture at Brussels university ULB on the comingnegotiations EU energy chief Kadri Simson speaksat 'emPOWER - Energy Transition Summit'in Brussels U.K. Labour Party leadership debate on Channel 4Like the Brussels Edition'Don't keep it to yourself. Colleagues and friendscan sign up here. We also publishthe Brexit Bulletin, a daily briefing on the latest on the U.K.'s departure from the EU.For even more:Subscribe to Bloomberg All Accessfor fullglobal news coverage and two in-depth daily newsletters, The Bloomberg Open and The Bloomberg Close.How are we doing'We want to hear what you think about thisnewsletter.Let our Brussels bureau chiefknow.--With assistance from Zoe Schneeweiss.To contact the authors of this story: Viktoria Dendrinou in Brussels at vdendrinou@bloomberg.netNatalia Drozdiak in Brussels at ndrozdiak1@bloomberg.netTo contact the editor responsible for this story: Heather Harris at hharris5@bloomberg.net, Chad ThomasFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.2020 Bloomberg L.P.
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