maria tadeo there. coming up, we hear from our with the chief scientist at the world health organization. that is as the u.k. struggles to contain ahima tatian of the virus that is more contagious. that is next. this is bloomberg. ♪ watchingou are "bloomberg surveillance." in anast england are emergency lockdown. at the worldentist health organization says that u.k. scientists are working with the organization on the new strain that is spreading. she told bloomberg there is currently no indication that the vaccine treatments won't work on this mutation. important is really that we study the impact of these mutations, particularly when it starts becoming a dominant strain. we have seen this happen before with other strains where they arrive and slowly take over and become the dominant strain. advantage.e the bottom line is that the intervention to prevent the spread, regardless of which variant it is, are the same. i think that is key and that is where we should be focusing. scientists are doing the la

bloomberg's maria tadeo in brussels for us. as the market awaits the outcome of this meeting, bloomberg has been speaking to business leaders about the potential impact of a no deal brexit. that anly hope agreement can be found because even with agreement, it is going to be very painful and difficult. that with a hard brexit, it is going to be really painful, especially for people losing their jobs. it is the last thing we need last night -- less than we need right now. >> those tariffs can be quite substantial on some food items. so those all most inevitably are going to lead to higher prices. is themost important market participants, banks, asset managers, all participants are well prepared for this event , and hence, i do not it is bait huge volatility around it. bait -- do not anticipate huge volatility around. guy: joining us now is arend kapteyn, ubs chief economist. the base case, is that the way to go? arend: we think so. i think we are all just waiting. if you are not in a room -- in the room, you don't really know wha

maria tadeo will join us from brussels in a minute. we are thrilled to bring you david merritt, bloomberg news senior executive editor, truly experienced on the logistics and how it links into the government as well. they will be a so-called cobra meeting today with the prime minister. what does the prime minister hope to accomplish? we are waiting to see what comes out of that meeting. the cobra committee only convenes at moments of crisis. the level of this real sense of chaos is engulfing the country this morning after a very dramatic weekend with the admission this new strain was ripping through london and the southeast of england at an alarming rate. an emergency lockdown in the shopsl city, with closed and people told to stay at home. over the weekend, european nations lining up to shut the door on travelers. -- in the united states is hostile -- the real constraint in the united states is hospitalizations. is the real constraint for the government there hospitalizations? have: so far, hospitals held out. that is a big factor in

tom: maria tadeo, thank you so much. an exhausting week for you, no doubt. maria tadeo in brussels. coming up on jon ferro's "the open," mohamed el-erian in these tumultuous times. this is bloomberg. futures -20. ♪ the usual gifts are just not going to cut it. we have to find something else. good luck! what does that mean? we are doomed. [laughter] that's it. i figured it out! we're going to give togetherness. that sounds dumb. we're going to take all those family moments and package them. hmm. [laughing] that works. karina: this is "bloomberg surveillance." netflixs projecting growth rate streaming services. kelly says it could have up to 300 50 million subscribers worldwide by 2024 due to an onslaught of program from marble, star wars, and -- from .arvel, pixar, first doordash, than airbnb. the two startups went public and their valuations skyrocketed. that is assigned that both companies could have raised more money than they did. airbnb opened 115% above its ipo, the biggest debut rally on record for a large u.s. listing. experts say the reason for the extreme pops was demand

they say maria, they walk away. does towhat maria tadeo world leaders in particular. but it is a realization, not the united states and europe, it is 27 nations, depending on who is counting. how united is europe in 2021? isabelle: i think it is very united, actually, certainly in its ability to provide policy support to its economy and to put money where its mouth is on implementing a climate transition that delivers carbon neutrality by 2050. there is going to be a lot of investment, a lot of spending and policy support. you do not get there in a straight line, but frankly neither do you in the u.s. or other countries. frankly, there is a part of the world where we are not worried about policy fatigue or policy disunion in 2021. it is europe. frankly, that is another thing. as everybody agree about everything? absolutely not. inre are big differences views on lots of topics. europe has made a lot of progress this year and hopefully will continue to step by step filled up the -- build up the institution of architecture that is needed. and of course tonight we will ha

maria tadeo caught up with michel barnier earlier. barnier: we are in a crucial moment and giving at the final push. in 10 days the u.k. will leave the single market and we continue to work with the member states. kailey: joining us is bloomberg politics reporter ian with heart -- ian withard. is there any indication we will get a deal between -- before 11:59 on december 31? -- it has been an absolute roller coaster for the negotiators sitting in the room hanging on the every word of the leaders of the eu who are talking to each other. they are very close and they could get a deal within 24 hours or they could get a deal on new year's eve or it could all fall apart. nobody knows yet. sidesre close, but both need to take a final leap and they are not doing it yet. ian, is it down to fish or are we still arguing about other issues as well? not the other issues are completed. things like the level playing fair making short competition is the same on both sides. it is mainly down to fish. the thought once they get fish everything else is

anna: thank you very much, maria tadeo. they want to talk about planet change and other things other than brexit. kallum pickering, senior economist, berenberg is still with us. are you surprised the contribution it makes to the u.k. economy how much emphasis is put on fish? everybody knows the link to the scottish independence movement as well, but are you surprised the extent this is a sticking point? kallum: i do think it is what fish represent an economic terms, which will be small decimal places. from a political point of view, you have a couple of issues. take the u.k. side, first you mentioned scotland. townser, the coastal along the north have been hollowed out and shifted toward a services-based economy. they have a commitment to renew these areas. if they back down too much on fishing, that would undermine their commitment. unless we forget, it was those regions which helped boris johnson won a landslide against jeremy corbyn last year. those are mostly brexit regions, so this is a key political issue. in the end,

matt: maria tadeo in brussels. we will check back in with you, there's a lot of talk about vaccines to votes as well, because the brexit deal still needs to be voted on within the u.k. and europe. envoys have already approved it. the deal maybe too little, too late for the u.k. car industry. nissan might struggle to qualify some of their u.k. assembled models for terror free exports into the eu -- for tariff free exports into the eu. joining us is our auto reporter. craig, talk to us about how this happened. such big businesses must've been lobbying hard for inclusion. how was it overlooked? craig: i think it's the case that the industry breathed a huge sigh of relief last week, but as you say, a lot of damage was already done. you had honda closed down its plant, announce it was going to close down its plant in swindon. you had nissan who had already pulled the plug on bringing the x trail here, and decided against bringing an electric vehicle here because of frexit risk. -- brexit risk. this is the case that whil

joining us from brussels, maria tadeo. maria, what should we actually expect from the next meeting? francine, that briefing will be key. every official that i have spoken to this morning agrees on that, the perception coming from the head of the european commission, ursula von der leyen will be critical to where they go next. i will say the moon here is not that pessimistic. there was no deal over dinner, but no one was expecting one to emerge. the key here is that both sides agree they want to stay at the table, and they want to explore every possible way to get a tension,that that political emphasis is still very much there. where we could get a deal, however, francine, is a deal, compromise between hungary and poland and the russian and european leaders could happen before the end of the summit. as you know, that is the european recovery fund that is key, and they are hoping that will happen in the next 48 hours. francine: maria, if, you know, is sunday a real deadline, or could that be postponed? what is the real, real deadline for negotiating this? maria: right, francine. we ar

joining us to discuss is maria tadeo in brussels. bring us up to speed on the latest travel restrictions and where we are at with the freight holdups. maria: it continues. you have seen those pictures playing all morning of trucks waiting in line just to enter friends and -- france and try to get a hold of normal operations. the french have restricted travel from people, but also goods. the prime minister says he has spoken to emmanuel macron to try to open up to get operations back up and running. the french and principal said they agreed, but there needs to be a health protocol put in place before and people will have to be tested before they can enter in a truck. disruptions very much continue. the numbers do not appear as big as yesterday, but nevertheless, the disruptions are very obvious and apparent. the list of countries now banning travelers from the u.k. into continental europe biplane, many of them trying to get home for christmas, has increased. spain and portugal have said initially they did not want to do this, now sayi

for more, we are joined by maria tadeo in brussels. when you look at the talks on going, does it get us closer to the deal, or could it always unravel? maria: francine, to some extent it does just purely based on the fact that the two sides are very much at the negotiating table. if the prime minister had wanted to walk away yesterday, sunday, which was framed as a make or break deadline, that was a perfect opportunity to do that, instead we heard from both the prime minister and the head of the european commission that they want to go the extra mile to get a deal going. the language around the playing -- on friday, the head of the commission was clear that the e.u. does not expect the u.k. to do a copy and paste of regulation. if you move away, that is ok, you are a sovereign country. we will have to tweak market access, but we don't want you to copy. that is something that could give the prime minister a helping hand. we understand that shall bonnier is telling european investors that he does see that that michelle bonnier -- that mi

francine: thank you so much, maria tadeo, and brussels. joining us also for what this economy is simon french, chief economist at tranmere garden. simon, given we are still dealing with covid, we are in a pandemic, and with a no deal, there will be quite a lot of disruptions. simon: it is important to put 2021 into correct context. the midterm response to a no deal would be to shape and argue 200 basis points of u.k. growth next year, but it is still likely to be something in the growth, 4%, 5% of gdp which would be the fastest rate in 60 years. and actually, to some extent, that will be a function of how far the u.k. economy found themselves, and 11% contraction, probably, and 2020. we need to put the marginal impact of a no deal against the backdrop of what will be a coven vaccine-led recovery, and that will be the real challenge for ,eople who say to hang on significant friction near term, it would be quite difficult to see. francine: simon, what is the top line for pound? what does pound do, and what exactly is it looking at? if we hav

in the next hour, we continue talking about brexit with maria tadeo. this is bloomberg. ♪ - [announcer] imagine having fuller, thicker, more voluminous hair instantly. all it takes is just one session at hairclub. introducing xtrands. xtrands adds hundreds or even thousands of hair strands to your existing hair at the root. they're personalized to match your own natural hair color and texture, so they'll blend right in for a natural, effortless look. call in the next five minutes and when you buy 500 strands, you get 500 strands free. call right now. (upbeat music) ritika: this is bloomberg surveillance. fedex has failed to keep up with wall street stalling expectations, jumping costs, profit margins in the fiscal second quarter. it spurred doubt about how much fedex will gash asked cashin from record package -- will cash in from record package delivery. tele-mistry -- -- demand is surging for equipment that allows doctors and nurses to provide real-time care over the cloud. goldman sachs says that bitcoin set by rising popularity does not endanger g

annmarie: bloomberg's maria tadeo in brussels. she will be across this story throughout the entire week. maria will be speaking to a member of the european parliament and brexit steering committee. that exclusive conversation coming up at 8:30 a.m. london time. later, we will speak to the mayor of london, sadiq khan. that interview is just after 10:30 a.m. london time. now, joining us this morning to digest all of the latest news, tatiana. good morning to you. i want to get your sense of the situation. we are hearing so much out of brussels and london. it seems like the effective deadline is going to be thursday at this eu summit. do you think we reach a compromise by then? >> good morning. they keep us guessing, don't they? you know, i'm torn. it seems they, market is not. the market thinks a deal is on the table because it makes economic sense. i'm maybe a little less optimistic about that because it's not just about economics. it is about ideology and politics. this morning, as maria just said, it is clearly a positive that the

maria tadeo in brussels. i love the brussels, by the way. it is great. let's get back to peter, my guest host from ubp. we have china and europe to consider. you thought that the euro could get to $1.30. i put it to you, there is not a chance of that happening with another irishman at the head of you take umbrage with that? peter: he might but there is not much you can do about it. from the ecb's perspective, they are using very heavily. there's nothing they can do on the deposit rate side. at the last ecb meeting, qe was a very well priced in. that's about it. it's not like the ecb is going to intervene anytime soon. if you listen carefully to what the ecb and the european officials are saying, they are focusing more and more on the rollout of their ease recovery fund. reading between the recovery fund and these banking tenders we will see next year, i think the ecb has accepted they are likely to see a modest increase to the dollar. consequently, it is about stimulative the domestic economy and not worrying about the euro zone. manus: what are the mode

for more on this, we are joined by maria tadeo. all, is orbanf doubling down, or that could this be a bluff? he has definitely doubling down, the wording around, but you can also see that orban is really feeling the pressure from the rest of the eu 25 countries that are clearly now sending a signal that they could dig poland and hungary if that's what it takes to go to a 25 member solution. orban, feelingy the pressure on that front, get a very subtle wording to the polish that they have agreed on a position and he is expecting es will stick to their word on that front. i would say there is a lot of pressure on him going into that summit, which will be done here in brussels for two days, potentially even entering into a strategy session, something a lot of diplomats will have to get over next week. francine: thank you so much, maria tadeo in brussels. inpoke with someone an blackrock who used to be in politics. we are back with holger schmieding. holger, a never ending summit in person in brussels. when you look at the other side,

maria tadeo knows the calendar. she is in brussels and knows that december 31 beckons. maria? maria: thank you so much, tom. we are joined by the european union executive vice president valdis dombrovskis, who focuses on trade. i want to ask you about china. there's a lot of speculation that you at the european union and china are going to sign a new trade arrangement before the end of the year. is that the case? workingwell, we are with china on comprehensive agreement on investment, and indeed what is in very advanced stages. we have a very productive last round of negotiations. i will say we are not quite there yet, but it is definitely feasible as these things move forward as they are moving now. maria: so if you can get it done in the next two weeks, after you sign it, is that going to guarantee that you have more market access in china? valdis: well, yes. we are concentrating on level playing field issues. force technology transfers, transparency of subsidies, and also about market access, so how european companies can better access china's market. of course, also some m

annmarie: thanks to maria tadeo in brussels. on brexit coverage to the entire day as we await the dinner between boris johnson and ursula von der leyen. christophe, we have boris johnson going to brussels. we have the fact that the u.k. is ditching the controversial parts of internal markets. do you find this all as a positive of a deal getting done? if so, how do you position yourself this week? christophe: yes. brexit deal should be done before the end of the year. is johnson today, it is a good sign. von der leyen in brussels. both combined, it should help to strengthen the discussion and the deal. to maximize the deal before the end of the year. according to me, in terms of political signal, but is a very strong one. it should help to strengthen discussion in order to making the deal done before the end of the year. annmarie: it is a very busy week for europe. there is brexit negotiations, a summit on the recovery fund, and the european central bank meeting. that seems to be looming large. what caught my attention was the 10

annmarie: our thanks to maria tadeo in brussels. hugh gimber from j.p. morgan asset management is still with us. i want your reaction to what we've seen from the united kingdom. do you think the u.k. is on the verge of a second recession? what damage -- with this damage, how are you starting to recalibrate? hugh: that's right, the story around the new restrictions coupled with the stresses we've seen at the borders yesterday is not good news for the short-term economic outlook, and i think it highlights the importance for the u.k. of getting these negotiations over the line in the final few days. when you look at the obr's outlook and u.k., they are talking about an additional 2% hit to u.k. gdp from a no trade deal exit at the start of next year. that is something i think the u.k. economy can ill afford in the context of the disruption we've been seeing. clearly those negotiations have proven difficult to get over the line over the past few weeks, and there is a lot of talk about time running out, but for me, i think reaching the final hour has always b

joining us for more is maria tadeo. good news on the vaccine front but in the meantime this travel restrictions continue to get tighter. maria: and in terms of a vaccine, this is something widely expected to happen today. you also have to factor it is coming after the vaccine was approved for public use in the u.k. and united states. there has been pressure building around the european regulator to get it going quickly so the europeans could start to vaccinate people and get it going before the end of the year. it has not triggered a major reaction because we knew it was going to happen today. when it comes to the restrictions and this virus mutation, you've seen something that looks like a diplomatic earthquake with every major european country now seeing the restricting access to u.k. travelers. europe worries about the mutation of the virus. what i would say is when i have spoken to the virologist, this may not be that bad. the u.k. is a country that does a lot of sequencing, more than other european countries, and t

maria tadeo on the ground, covering everything as usual in brussels. she doesn't stop. she's a 24/7, 365 days a year newshound, so great to talk to maria about that. let's get to kit juckes of socgen, chief fx strategist. let me put a question to you that we have been discussing today. how confident are you that the eu is going to be able to efficiently and quickly handout the stimulus money from its rescue package as needed? i am confident that they will get it done. i am absolutely confident there will be glitches along the way, because that is how europe works. but i am still confident that we have passed a turn in the road were fiscal policy, after being hardly active for the last in ae, is finally coming meaningful fashion. we are not going to do this quickly where there will be glitches along the way, but it is happening. , the ecbast 20 years has been the only game in town. this money is getting spent, and that is going to be important. carol: i keep thinking of the financial crisis and that protracted recovery, which was ultimately good for many asset classes, b

maria,ust check in with maria tadeo is with us come in and she's going to take us through some of these issues. seasons greetings. there's a lot of things that still need to get clarified and need to be done related to this deal. it's a very comprehensive trade deal, but nonetheless, first of all, it needs to be ratified by the u.k. parliament. that should not be difficult in principle but the european parliament said they really want to give this real scrutiny so we are looking at potentially three weeks of about before we get that ratification. you are quite right on that. this is a deal that essentially sees a member state leave the european union. when it comes to financial services, financial firms have said they would have loved to see more detail on the so-called equivalent. it does not guarantee we will see the same status quote in the u.k. and europe, and of course, you have the pending issues around arbitration and potential retaliation in the future. the two sides have made it clear that if they deviate from the trade deal, they could go into that and we could see tariffs at

. -- maria tadeo. a landmark agreement over the rule of law, give us those details. maria: there has been an agreement on the budget for the coming years for the european union, but more crucially for the european recovery fund. it will be operational by the start of 2021. there is the payment done in april, then the flow of money will start in the second half of the year, that is a huge leaf for italy and spain, and a big victory for angela merkel. she was hands-on and able to broker a compromise that does not change the language around the rule of law. it is a big victory for the germans. they wanted to end on a high note, and you could argue they have done that. video orban threatened a -- threatened a veto. if you look at the wording and the document, not much changes from now to the document agreed to in july. he has a few assurances from angela merkel. matt: they dealt with the hungary and poland issue, and withhey have dealt the climate issue, agreeing to increase the reduction of carbon from 1990 levels to 55%. maria: exactly, they bring that target they want

let's get to maria tadeo with the details. good to see you. who is jumping on the call and what is the purpose? we have more than 1000 companies jumping on this call with the internal markets commissioner and all the big tech from amazon, facebook and google are represented on this call. the timing, as you said, is key because this is coming a week before the european union purchased what could be two major pieces of major legislation. the general services act and digital markets act. this is the final act that big tech will have to make their case before the regulator, before they get announced. it will not be easy to change their minds here because the european union has already singled clearly, the direction of travel is to rein in some of that big tech. i would also point to the words of the commissioner who has been charged who says it is not up to europe to adapt itself to big tech. it is big tech adapting to the european playbook. that means perhaps more fines and more severe cases to break some of the businesses if necessary. i would s

joining us now is our maria tadeo. potentially a tense dinner conversation coming up. maria: yes, francine, and the timing now confirmed for 8:00 p.m. the dinner is happening at the valley monde building behind me come on the 13th floor, ursula von der leyen's personal office. today, european officials briefing that they do not really see a hard deadline, and it is not really make or break them up but it is an important dinner, that bond orcial land leaves that dinner to brief leaders when it comes -- that leyenr lien -- von der leaves that dinner to brief leaders. it is more about injecting momentum and making sure that talks get tal started. it will very much depend on that briefing after the dinner. francine: there is nothing like food diplomacy. i do not know whether we have a dinner or we know, maria, what is on the menu, but usually sends very clear messages about what they want to negotiate. maria: yes, francine, and we do not know if they want to get up on the menu, but as soon as i find out, i will make sure to report back. what we do know, however, is this wi

annmarie: maria tadeo, thank you so much for joining us bright and early. paul brain is still with us. paul, i want to pick up on the vaccine narrative. the u.k. has it, the united states has it, we are still waiting for the european union. the companies that could do well are they get out of your house kind of companies. is that a win for europe because they have been lagging far behind the united states when it comes to valuations and the fact that everyone says europe is really about the value trade? paul: it could be something that europe has missed out on through this year. as we get more of a move towards value as economies recover, getting back towards normal, the vaccine -- the rollout of the vaccine is happening. it takes longer than the markets will extend. they are putting it out to populations which will see the benefit coming through and that will benefit cyclicals and value stocks over the next 12 months or so. annmarie: you talk in your notes about the u.s. high yields having 8% of the market maturing in the coming year and in europe, it's 12

anna: thanks for the briefing, maria tadeo and brussels. lots more to come as we head towards the summit next week. let's get a bloomberg business flash. here's laura wright. laura: pfizer scale back production target early this week after it ran into difficulties securing materials in needed. it had promised up to 100 million doses this year. but nasa's the target is 50 million -- now says the target is 50 million. the scale up of raw materials took longer than expected. ryanair has ordered 75 high-density versions of boeing 737 max. the transaction value at about $7 billion. it's the biggest in two years for the plain model. it comes as a vote of confidence forr the boeing was granted 24 months following two deadly crashes. >> we have incredible faith in the recovery of the industry. if anything relative to the early product -- projections could be made, with respect to recovery, this vaccine developed, global district asian of the vaccine, if anything, accelerates our view of recovery. laura: morgan stanley is handing out a special one-t

maria tadeo in brussels. mccraw.cinated by mr. took a look at -- the by mr. macron. i took a look, and it is almost like brexit is a billable -- is invisible in paris. what does he want from the prime minister across the channel? maria: he has a lot on his mind, and when you read newspapers across europe, brags it is not a big issue because there is so much happening here. you have covid, the vaccine, the also forbudget, and emmanuel macron in particular, he is already in election mode. he wants to be seen as being tough. he wants to be seen as addicting fishermen in france. about his own projections, but he will say it is not just about me. it is about protecting the european union as a trading block. he does believe the eu negotiates from a position of strength, and that this is a real moneymaker. you have to protect it. asa: are they very close to deal, but all sides have to show their constituents that they are making the hardest fight possible? isn't that what is going on here? maria: yes, and it is a very difficult question to answer because you have the techni

here is maria tadeo. maria? maria: good morning. we are joined by a member of the european parliament. he's also the former italian minister for european affairs. when you look at the deals, would you think is the biggest winner? lose-losewas a process and we both lose. of course,t, overall, u.k. is losing much more than that you. i repeat -- then the eu. the big repeat, we have more damages from decisions to leave the eu. we still have to rectify this deal. when is it putting it to a vote? sandro: as you know, it's a very long document. 1,500 documents. we take our time, of course, to look into that. i do believe that it could be february. we are talking about the eighth of february. but it's just being discussed now. it is clear we will have a look, specifically into the deal, which i repeat, looks like a positive deal. we see it in a negative context. maria: right, so just to pick up what you said, because this does matter on applications you have. what you say is that it needs to be ratified, but it probably will not be in janua

let's get to maria tadeo. maria: good morning. it is another day, another deadline that has come and passed. michel barnier, still briefing. saying it is difficult but still possible. to discuss this, i am joined by a professor at ucl of u.k. law and constitutional law. i have a question when it comes to the deadlines. this is becoming almost a never-ending story. would the actual deadline be december 31, or do you see a way for talks to continue beyond and going into the new year? >> talks can always continue. december 31 is the point at which the e.u. stops applying to the united kingdom. this could, if a deal is reached, just like a couple of days before the deadline, and could be a provisional application of that deal. but the continued application of european law throughout the transition that will start on the 31st of december and that means a lot of change in all aspect of economic relationship? want to pick up on that because the timeline is crucial. you are saying that there could be a deal by december 31 that is not rati

maria tadeo, a reporter in brussels. fightms of the eu's against covid-19, biontech says the eu countries will get the covid vaccine in the next five days. we will be speaking to biontech's cco later this morning. don't miss that conversation at 9:00 a.m. london time. janet mui, director of investment, brewin dolphin holdings is still with us. i wanted to talk to you about the u.k. risksors do not see the as symmetrical around uthe pound. what is your assessment? the risk depending on the outcome, i think it is because resilientas been given the potential of headline news of no deal. suggest complacency, and they are optimistic a deal will be struck. we do not think the elements of no deal is priced in at the moment. if we get a deal, we think sterling would rise modestly, not too much upside. it is not a scenario that will have significantly more downside. if there is no deal, what would be the response in equity markets? if we saw substantial moving sterling, it sometimes has a correlation to stocks, but not always. be

matt: that was european commission executive vice president speaking with bloomberg's maria tadeo. i want to point out turkeys central bank governor is speaking right now, saying price stability is a prerequisite for sustainable growth, and he is determined, and the central bank is determined to curb inflation. now,ira a little stronger and much stronger sense he has taken over. -- since he has taken over. payouts are back. on ecb has listed its ban dividends, but with strict limitations, they are talking about banker bonuses as well. we will bring you the details next. this is bloomberg. ♪ anna: welcome back to "bloomberg markets: european open." 17 minutes until the start of cash equity trading. thisfutures look flat hour. let's try to get act to our conversation with giampaolo isolani, head of em investment solutions, amundi. a good time to speak to you, we just saw a headline across the bloomberg about turkey, which is moving the turkish currency. the turkish central bank saying it will tighten policy further if needed. how significant is the arrival of how he is handling pol

maria tadeo. still with us, judy jim -- judy dempsey. have you see this being resolved or not resolved? new, what nothing poland and hungary have been doing. suffered and they did not take any action. neither did germany. is allegedly using the eu funds for his own football staggering, the systematic erosion of the judiciary. members. eu if they try to set some values, those values are being threatened by hungary and poland . aboutwhat does it say moving forward? cold water onhrow all of that conversation? i don't think so. if you look at the eu as it is, it's a home of many different rooms. there's the eurozone, the defendants area. many speeds of europe. we have to get this into our minds, the first thing. has allowed the corporation of leaders. the kind of a coalition of willing. .t's not damaging the eu i think actually the eu is beginning to take itself really put its money where its mouth is on this very issue. guy: judy, it europe usually together with the crisis in front of it. it takes a web to get there. the problem is, over th

maria tadeo in brussels is covering the story for us. who is on the call and what will they be talking about? maria: good morning. we have more than a dozen companies during this call with the internal markets commissioner and all of big tech is represented, facebook, google, amazon and so on. this is not just about who is joining but also the timing of the call. this is happening just a week before the european union unveils what could be sweeping legislation for these platforms. we are looking into the digital markets act, the digital services act and they could change things about how you and whota, change data, is responsible for the content that goes on social media. this is the final call for big tech to have a one-on-one with the regulator. it does not mean they are going to change course. it is unlikely. the european union has signaled that they do feel it is time to , that it is not for the european union to adapt to technology, but for the technology to adapt to the european playbook. we could see bigger fines in the future but

in order to get more on the situation, we go to maria tadeo in russell's. -- brussels. how effective or how efficient is a vaccine rollout going to be in an attempt to tame a third wave? a good points because european governments are concerned about a third wave after the christmas holidays. we know there are people who move around to the home for christmas. in terms of vaccine, everyone in the medical community believes this is the best weapon, but the problem is not so much the vaccine, but how many people can you get vaccinated and quickly? that is where the focus is turning to next. we know the germans and italians are focused in on that to increase capabilities and be able to get more people vaccinated before the spring. the other issue very much in focus in brussels and europe is the regulation of the vaccine rollout. we know the european regulator vaccine to get on the that was running three weeks after the u.k. agreed to get the vaccine approved. the europeans are trying to catch up on that time. we are expecting a decision from moderna to happen january 6. that

maria tadeo. next, sarah house from wells fargo is going to join us to discuss these markets. this is bloomberg. ♪ are you frustrated with your weight and health? it's time for aerotrainer, a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time, all while maintaining safe, correct form and allows for over 20 exercises. do the aerotrainer super crunch. the pre-stretch works your abs even harder, engaging the entire core. then it's the back extension, super rock, and lower back traction stretch to take the pressure off your spine and stretch muscles. planks are the ultimate total body exercise. build your upper body with pushups. work your lower body with the aerosquat. the aerotrainer is tested to support over 500 pounds. it inflates and deflates in less than 30 seconds using the electric pump. head to aerotrainer.com now. now it's your turn to lose weight, look great, and be healthy. get off the floor and get on the aerotrainer. go to aerotraine

. >> bloomberg's maria tadeo in brussels covering brexit and the swift reaction from european countries. let's get to the first word news from hong kong. u.s. officials say a lengthy effort lies ahead to identify the extent of a suspected russian hack on federal agencies and private companies. mitt romney says russia acted with impunity calling for a response. he says president trump is playing it down suggesting china is to blame. japan has approved a budget. fightuntry struggles to the coronavirus and support the economy. earlier this month, it announced a rescue plan. biggests -- the sixth backbanks are set to buy their shares in the first quarter. it follows a second round of 2020 stress tests with the central bank saying they have the capital to whether a global downturn. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. >> coming up on the program, christmas chaos as a more contagious version of the virus emerges. we have more on what that looks like or u.k. assets. this is bloomberg. â

tom: the train to brussels is called maria tadeo on the oriental express. let's get to dr. roubini. here is ritika gupta. ritika: joe biden says he will ask all americans to wear a mask the first 100 days of his administration. cnn hesident-elect told will issue a standing order requiring face coverings in federal buildings and interstate transportation. he says that will leave to a significant drop in coronavirus cases. on capitol hill, the chances are on a stimuluseal package by year end. the basis of negotiation is getting more interest from the republicans. is spending $908 billion, less than what democrats are calling for, but they say it is a starting point. opec and its allies have found a compromise on output cuts. agreed to generally easy into reducing production next year. saudi arabia's energy minister called the process tiring and excruciating. global news 24 hours a day, on air and quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am ritika gupta. tom: we are doing one statistic in our data check today, and that is

maria tadeo joins us from brussels. meeting high-stakes happening tomorrow between the head of the european commission and prime minister boris johnson, we are joined by phillippe lamberts. if i get this correctly, sir, you were also present yesterday at a rethink that michel barnier gave to you. ofyou look at the date december 8, how worried should we be that we don't have a deal in place yet? >> it is obvious there are key issues, and the option become the most likely. of course, the prime minister will travel to brussels, but there are some circles that you cannot square. you cannot have market access without a degree of regulatory alignment so market that you want to serve and therefore a no go for the united kingdom, it is going to be a no go for us as well. that unilateral action of the british government, the government of boris johnson itself, will sign the agreement of a year ago, and with the option of a not abiding by it it is not exactly a confidence building measure. there is zero trust in whatever promise

maria tadeo joins us with details. how close are we? it doesn't sound that this is a minute and could happen tomorrow. investment deal. it is happening under the watch of the german rotator presidency of the european union. the key here is that when you look at the trade relationship between the european union and china, there is a deficit of 150 billion euros. it works in favor of china. europeans, the germans, the fronts, this is a relationship that needs to be rebalanced. they worry about state subsidies, dumping, the lack of equal access for european countries and the chinese market. in theory, this is working to rebalance. it will all be about the details. ofi say, there is a lot growing speculation in brussels that this may come as early as tomorrow. -- one of ther critical factors is europe's ability to manage labor standards in china. i am wondering what progress is likely to be made here in terms of adhering to international standards on labor and what progress the eu has made. had been one of the sticking points and is very we

maria tadeo joining us from brussels. european equity markets flat overall, but we have the ftse 100 up by 0.4%. much flatter on the dax. the pound seems to be the differing factor there. european markets making modest gains. next, we talk about tech. this is bloomberg. ♪ every year, we set out to do one thing: help the world believe in holiday magic. and this year was harder than ever. and yet, somehow, you all found a way to pull it off. it's not about the toys or the ornaments but about coming together. santa, santa, you're on mute! just wanted to say thanks. thanks for believing. matt: welcome back to the european open. we are 30 minutes into the trading day. let's take a look at what is going on in terms of stocks, the direction and the individual movers in terms of the industry groups. 600, very little change. it has been up and down between gains and losses all morning 29 --well, all smoking, drinking, and eating, three things that people will probably never quit doing, also doing well today. that is fairly defen

joining us now for a roundup of all the latest concerns for brexit is maria tadeo. is france serious about this veto? is it a negotiation tactic? maria: it could be both. can a country like france veto this still? yes they can. every european nation will have to unanimously agree to the final deal. it is important to put context of the comments. this was all happening yesterday. he was briefing european ambassadors and the french envoy made it clear that this is still a political decision, that he should not move too much from his negotiated mandate, that he should not give too much away. ultimately, this will come down to european leaders. almost a, this is technical negotiation happening between the eu and the u.k.. the final approval of this comes down to the european leaders, whether they feel this is a good deal for their countries or not. more of a threat. this is just a warning, a negotiatingthe team. the eu leaders have to agree to this. they have to be able to sell the final deal to their own national domestic audience. for the french and belgium, the dutch

joining us from brussels is maria tadeo. how does it set europe up for the recovery out of this? maria: you had a meeting that went on for 22 hours nonstop, and we had a deal on climate, so that means reduction in emissions will be done quicker than expected. looking at a 55% reduction by 2030, so it is a significant change. the big highlight of the night has to be the recovery fund and the european budget. you are looking at $750 billion in joint debt, aaa rated debt by all of the member states and european institutions. it is a feeling of huge relief for countries like italy and spain to be able to know that starting 2021, that recovery fund will be operational, and by the end of the year 2021, that flow from the commission tapping markets will go directly into their pockets, so clearly there was a big sense of relief last night, and to be frank, a orbanown from viktor in hungary. there were no concessions last night. guy: brexit barely getting a look. pascal donahue is the head of the eurogroup. let's hear what he's had to say. >> there is still trust from the european union t

maria tadeo is in brussels. they will continue to talk. morning,n for us this does it get us any closer to a deal? i understand the u.k. put forth a new proposal over the weekend for a level playing field. we will see if that can move things. maria: that will be the key, does it take us closer to a deal? that is always hard to say, but it avoids the no-deal scenario. a lot of things could have gone wrong sunday. another deadline passed. if the prime minister was serious about walking away from the deal, he could have done so already. we also have new language from the european commissioner, who also said, we get we are all exhausted from this, but we want possible.eal if it is going back to your point on the level playing field, the tone has changed from brussels coming out of that summit. are some of underlying was clear that everyone here gets the u.k. will become an independent, sovereign country after brexit. that is clear to everyone. when it comes to the market access, it is something that e.u. could change. so it is not about enforc

speaking earlier today, italy's minister of european affairs told bloomberg's maria tadeo what he's most worried about on the heels of next week's eu leader summit. >> brexit, as usual, europe is very united. our delegate michel barnier has our full confidence to negotiate on behalf of the delegation. alix: maria, it has been quite the 24 hours when it comes to brexit. where are negotiations now, and what happened? been 24 hours of mixed signals and a lot of back-and-forth between the european union and the u.k.. we understand that michel barnier has decided he doesn't have enough to present, and he will stay longer in london to try to present a deal. in terms of deadlines, i would really not want to give a date on this. to be very honest, no one knows what is going to happen. that thisso caution is very much part of the choreography. it needs to be seen as being very difficult. . it needs to be perceived especially back home so that every leader can sell this as a victory, that it was very difficult to get the deal, and that vito potentially from the french, i would say you have to fact

we have just been hearing from him speaking to maria tadeo just a few minutes ago. a final push apparently is what is now being made, but

rhea today owed joins us from brussels -- maria tadeo joins us from brussels. what is the mood like in brussels? have been a lot of headlines over the past two hours, signaling there is no breakthrough on fish, but what i would highlight is that the tone and the narrative is changing to becoming much more somber and pessimistic after michel barnier briefed ambassadors today to say that the sticking points remain in there hasn't been a fish breakthrough. the europeans are pushing back on that idea. it will come down to the prime minister. what i would signal is that there will be an important phone call between boris johnson and ursula von der leyen. when it comes to the actual deal, european diplomats will tell you nothing will move until european leaders get together in brussels on thursday, friday, to signal whether a hypothetical deal that gets put on paper, a technical deal can fly politically. until then it is hard to see one diplomat saying this is a 50/50 situation. what happens in the next 24 hours? maria: we are waiting for the phone call that happens

fantastic to catch up with you, maria tadeo in brussels. lisa, we are told it is a hard deadline. december 31 cannot be moved. i was told a week ago they had no appetite to extend talks be on sunday. here we are monday morning still talking. lisa: i feel like this is really subtle. i am not clear exactly what you think of this deadline? jonathan: i think i have been ?ubtle, haven't i lisa: new definition on subtlety. [laughter] jonathan: i have buried how i really feel. enough brexit. brian weinstein joins us now, global head of fixed income at morgan stanley. i am not sure brexit is at the top of the list for many people. this wednesday is the federal reserve decision. what are you looking for the fed this wednesday? brian: good morning, jonathan. good move on brexit, not talking about that. we think it is a real close call, 50-50, which i know sounds like a cop-out. at the end of the day we think they will not go for moving the extension of the buying. better to save it for later if rates rise, save it for dry powder. look at the world, republicans and stimulus, equity markets a

we turned to maria tadeo who is with the executive vice president of the european commission. right, david. two pieces of legislation just announced in the european union that could have big repercussions for american tech. on that note i am happy to say we are joined by the european commissioner. today you have announced measures. we could see potentially breakup companies, we also see companies need to take responsibility. the digital market is the same as brick-and-mortar. do worry about your reaction from companies like facebook and amazon? >> what we worry about his competition and a fair marketplace. we have been consulted extensively, we have been talking with everyone, we had experts, member states, organizations. this is our worry. of course we are balancing things. this is an unfortunate proposal. maria: you said this was not targeting anyone in particular and you hope you do not have to find anyone. nevertheless you could see 10% revenue. is that something you're looking to do as a measure if needed? >> i think everyone who wants to comply with legislation passed by

joining us is maria tadeo in brussels. we are definitely seeing signs withncern in the fx market the pound falling down below 133. what are you hearing? it does respond to this change in narrative we have seen over the past two hours, in which barnier goes into a briefing in brussels, which is very early for brussels standards. he says he does not see much optimism in the three sticking points that remain. he pushes against this idea that there has been a breakthrough on the fish. european diplomats have been telling us that this has not been agreed, that there is nothing that looks like a political landing zone for the sticking point that is fish, which for the french is a huge concern. now we have another european diplomat. barnier is briefing members, saying he does believe it could go either way. this is a diplomat, and it very much depends on the united kingdom. this is what the eu has been trying to do over the past 45 minutes, to prove the narrative and say, we want to get a deal and continue to talk, but it comes d