| Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union.European leaders, not le |
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| Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. European leaders, not least Denmark's Mette Frederiksen, are struggling to come up with an effective response to the immediacy and bluntness of US President Donald Trump's diplomatic doctrine. When Colombia rejected deportation flights from the US, Trump responded with a battery of threats, including tariffs and travel curbs. Once Bogota capitulated, the economic stick was lifted. The move showed the effectiveness of Trump's aggressive approach as a diplomatic cudgel to achieve short-term priorities. It will be closely watched in Denmark, which has been in crisis mode since Prime Minister Frederiksen's bruising phone call with President Trump, in which he made clear his plan to take over Greenland is no joke. — Max Ramsay | |
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| Backing Down | EU foreign ministers agreed to extend sanctions on Russia over its war against Ukraine, with Hungary lifting its opposition to the move. Prime Minister Viktor Orban had been stalling since last month. The commission said it would provide assurances on energy security in return for Hungary backing down. Court Challenge | Elon Musk's Tesla and BMW have sued the European Commission, adding to a flurry of cases by Chinese carmakers over tariffs peaking at 45% on imports of electric vehicles into the bloc. BMW said in a statement that EU duties on battery EVs "do not strengthen the competitiveness of European manufacturers." UBS Redundancies | UBS has begun a wave of job cuts in its home market Switzerland, with hundreds of employees getting their notice in recent weeks, we're told. UBS is pushing on with headcount reduction as it integrates former rival Credit Suisse, which it bought in an emergency rescue in 2023. Buying French | Major investment firms are turning positive on French debt, betting parliament will soon approve a budget and pull the country back from the brink of near-term fiscal chaos. Data on big investors' securities holdings shows that demand for the bonds is trickling back after aggressive selling last year, though inflows remain well below historical averages. | |
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| Serbia Protests | Serbian President Aleksandar Vucic called for at least half of the government's ministers to be replaced in an attempt to defuse nearly three months of protests triggered by a deadly roof collapse at a railway station. Protests by thousands of students, who have blocked a highway in Belgrade, have emerged as the biggest challenge to Vucic and his party, who have dominated the country for over a decade. Olympic Bid | Juan Antonio Samaranch is a Spanish banker whose father ran the International Olympic Committee for two decades. Now, he's seeking to follow in his parent's footsteps, hoping his ideas of an investment fund and monetizing the IOC's broadcast network will set him apart from the pack. Culture Wars | Slovak Prime Minister Robert Fico has looked to shift focus to gender policy as he's faced growing anger over his populist, pro-Russian policies. Fico said he wants to amend the constitution so it recognizes only two genders and to limit adoption to heterosexual couples. Flow Again | Moldova and the EU have worked out an emergency plan to help the pro-Russian breakaway region of Transnistria mired in an energy crisis after the halt of Russian gas flows. | |
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| Italy became the center of European banking consolidation last year, sparked by Unicredit's bids for Commerzbank and Banco BPM. Monte dei Paschi's shock move on larger rival Mediobanca has continued that trend, though we're told Mediobanca sees little merit in the takeover because the strategies of the two lenders aren't a good match and it doesn't believe a combination would create value. Mediobanca's board of directors is set to discuss it at a meeting later today. | |
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| All times CET - EU European affairs ministers meet in Brussels, with arrivals from 9 a.m. and a press conference at 1:30 p.m.
- 9 a.m. Defense and Space Commissioner Andrius Kubilius gives welcome address at the 17th European Space Conference, with EU digital chief Henna Virkkunen speaking at 2:30 p.m.
- 5 p.m. Economy Commissioner Valdis Dombrovskis speaks at European Parliament panel on the European Semester 2025
- Commission President Ursula von der Leyen participates in informal dinner and exchange of views with ECB President Christine Lagarde and the central bank's Governing Council
- EU foreign affairs chief Kaja Kallas meets Ukraine's Deputy Prime Minister for European and Euro-Atlantic Integration Olha Stefanishyna
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