| Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union.Russia's Vladimir Putin |
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| Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. Russia's Vladimir Putin rebuffed President Donald Trump's demands for a broader ceasefire with Ukraine in a lengthy phone call, committing only to limiting attacks on Ukrainian energy infrastructure. Putin also demanded a halt to the flow of weapons and intelligence to Kyiv, which has been a non-starter for Europe. Shortly before the talks, UK Foreign Secretary David Lammy told us that Britain and the EU are in talks to accelerate arms shipments to Ukraine ahead of a potential full ceasefire. We've learned that US officials have told their EU counterparts that the bloc will have to be involved in any Ukraine peace agreement since Russia wants relief from sanctions imposed by the bloc as part of a deal. But with no formal role yet in the ceasefire talks, the EU is focused this week on boosting its own defenses capabilities, with leaders gathering tomorrow for a summit in Brussels. — Andrea Palasciano | |
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| Game Changer | German lawmakers passed a landmark spending package, heralding the end of decades of budget austerity. The controversial legislation pushed by conservative Chancellor-in-waiting Friedrich Merz would largely release defense spending from debt restrictions, creating a potentially unlimited supply of money to rearm to deter Russia. Next step is getting Bundesrat approval on Friday. Buy European | At least 65% of the spending with the €150 billion in loans given by the EU to member states should go toward products of European origin, Commission President Ursula von der Leyen said. She stressed that the EU must rebuild its security capabilities and be able to defend itself by 2030, citing Moscow's "irreversible path" toward a war economy. European Command | Europe needs to integrate its armed forces and develop a regional command structure in the wake of Trump's foreign policy agenda, former Italian premier Mario Draghi said. The topic of having a stronger European pillar within NATO has long been sensitive, but more voices are calling for it since Trump's pivot from Europe. Pain Ahead | Most European businesses expect Trump's sweeping push for deregulation to divert investments away from a lagging EU. A report by the BusinessEurope lobby group found that 85.7% of its member federations see the US administration's agenda having negative effects on Europe. Respondents said they consider excessive regulation as even more pressing than high energy prices. | |
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| Peak Paris? | Since last summer, international banks in Paris put expansion plans on ice that would have added hundreds of new roles. While each company has its own reasons, executives say privately that political instability, higher taxes and economic malaise are weighing on the French capital's ambitions to become Europe's premier financial center. More Water | Heavy rains across most of Spain have led to some rivers overflowing, forcing the evacuation of hundreds of people and leading at least one death. Storm Laurence, the third to hit Spain in less than three weeks, forced authorities in the southern region of Andalusia to evacuate several hundred homes. Another storm is due tomorrow. Link Up | A body that includes members of the UK and EU parliaments renewed a call to consider linking the carbon markets in Britain and the bloc ahead of a May summit. The emissions trading systems have been separate since Brexit, and UK carbon futures for December welcomed the news with a swift rise. High Luxury | Air France unveiled a redesigned first-class cabin dubbed La Première, seeking to attract well-heeled customers with a travel experience that it says is akin to stepping onto a private jet. Each of the four enclosed suites feature 3.5 square meters of private space with a seat and a chaise longue that converts into full-length bed. | |
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| Investor confidence in Germany's economy soared by the most in more than two years as the country prepares for hundreds of billions of euros of infrastructure and military investment. In addition to the debt-financed spending package, ZEW President Achim Wambach said "the sixth consecutive interest-rate cut by the European Central Bank means favorable financing conditions for private households and companies." | |
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| All times CET - 2 p.m. EU top diplomat Kaja Kallas delivers speech at Foreign Information and Information Manipulation Conference
- 4 p.m. Commission President Ursula von der Leyen, Council President Antonio Costa and Polish President Donald Tusk hold news conference at Tripartite Social Summit
- Kallas and Defense Commissioner Andrius Kubilius news conference on the bloc's new defense strategy
- Financial services Commissioner Maria Luis Albuquerque news conference on the Savings and Investments Union proposal
- Industry Commissioner Stephane Seourne news conference on the Steel and Metals Action Plan
- NATO Secretary General Mark Rutte hosts the Serbian President Aleksandar Vucic in Brussels
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