Crypto News: Brussels Edition: Balkan balancing act

Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union.

Commission President Ursula von der Leyen's tour of the Balkans this week comes at a delicate moment on multiple fronts. Her visit, including stop-offs in Kosovo, Serbia, Montenegro and North Macedonia, takes place a week before the commission is set to release its report on Ukraine's and Moldova's bids for EU membership. A number of countries in the region have been in the waiting room for years already. Serbia, which has been a candidate country for more than a decade, faces criticism from several quarters. The country was told last week to dial back mounting tensions with Kosovo by France and Germany, while Bulgaria accused it and Hungary of feeding Russian President Vladimir Putin's "war machine" by failing to seek alternative gas supplies. For her part, von der Leyen will be trying to calm, or at least not to inflame, as many of those issues as possible.

— John Ainger

EV Warning | China's ambassador to the EU labeled the bloc's probe into its electric vehicle subsidies as "unjustified and regrettable," and warned against any future trade measures that would penalize its clean-tech industry. It marks one of the strongest rebuttals yet by Beijing against the EU's proactive approach in protecting its emerging green energy sector.

Policy Collision | With inflation too high, output shrinking or barely growing, a fiscal squeeze looming, key elections due, and wars raging nearby, the confluence of political and economic cycles puts ECB President Christine Lagarde's monetary policy under particular scrutiny. The central bank plans to maintain the squeeze on the euro area for an extended period, but not all agree.

Talks Collapse | Australia has walked away from talks with the EU over a free trade deal, the second time in three months negotiations broke down. The talks in Japan were seen as the last chance for a deal any time soon after more than five years of efforts. Australia's Trade Minister Don Farrell said that negotiations will continue, though gave no time frame for any resumption of talks.

Mineral Dispute | The US and EU were unable to reach an agreement on critical minerals recently because the US made extra requests beyond those in a deal that Japan and Washington signed earlier this year, according to EU Vice President Valdis Dombrovskis. The two sides also couldn't agree on steel.

Nigerian Gas | Germany is eyeing imports of natural gas from Nigeria in an effort to secure and diversify its energy supply, Chancellor Olaf Scholz said during a visit to the country. Germany, which has been seeking alternative sources of gas after weaning itself off pipeline supplies from Russia, currently imports crude oil from Nigeria but not natural gas.

Brain Drain | Almost 40% of Portugal's graduates leave the country each year in search of better work and living conditions elsewhere. It's ironic for a country that has been doing a good job in recent years of attracting people from abroad — but the influx of digital nomads and wealthy retirees has comes with a hefty catch.

NATO Names | Outgoing Dutch Prime Minister Mark Rutte said he is open to succeeding Jens Stoltenberg as the next secretary general of NATO. Still, there's a "very big chance" he may not get the role amid broad support for a female European official to head the defense alliance, he said, without naming names.

Troubled Turbines | Siemens Energy supervisory board chairman Joe Kaeser pushed back against suggestions the troubled wind turbine maker may need a taxpayer-funded bailout from Germany. The company confirmed last week that it's in talks with the government. It comes as the EU looks to support its embattled wind sector.

Balcony Boom | Among the many lasting effects of pandemic-era lockdowns for apartment dwellers is an expanded appreciation for balconies. From "loggia-style" to "Juliet," we take you across Europe and the world to show you what kinds of balconies are possible in your next apartment.

The euro-region economy stalled or even contracted in the third quarter under the cumulative weight of interest-rate hikes, according to forecasters. All but four of the 29 economists surveyed by Bloomberg predict data on Tuesday will show gross domestic product either stagnated or shrank after only a brief spurt of expansion during the three months through June. A separate report is likely to reveal noticeably weaker inflation in October.

All times CET

10:30 a.m. Commission President Ursula von der Leyen press conference with Prime Minister Dimitar Kovacevski in Skopje, North Macedonia
5 p.m. European Parliament President Roberta Metsola visits French Senate in Paris
6:45 p.m. Metsola holds speech at Sorbonne in Paris
Commission Vice President Valdis Dombrovskis, Commissioner Janusz Wojciechowski take part in Australia Free Trade Agreement talks in Osaka, Japan
Commission Vice President Vera Jourova meets President Klaus Iohannis, members of the Romanian government in Bucharest
NATO chief Jens Stoltenberg, Nordic prime minister and foreign ministers hold Nordic Council in Oslo, Norway
Italian, German, French industry ministers hold trilateral meeting in Rome

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