FT News Briefing Brussels’s EU budget warning, Macron complicates Brexit deal, the ‘everything’ market rally
Dec 4, 2020
Brussels warns Poland and Hungary about potential cuts to their recovery funds due to rule of law issues. Macron complicates Brexit negotiations with last-minute demands, affecting the deal's stability. On the aviation front, Boeing celebrates its first order for the 737 MAX in nearly two years. Meanwhile, a global equity rally takes center stage, fueled by optimism from vaccine rollouts, raising questions about sustainability in the face of potential market disruptions.
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EU Budget Dispute
- Poland and Hungary are blocking the EU's budget and recovery fund over a rule-of-law mechanism.
- The EU may proceed without them, potentially reducing the fund's size or increasing other countries' shares.
Brexit Deal Complications
- Emmanuel Macron is reportedly making new demands in Brexit talks regarding fishing access and competition.
- The UK sees this as a toughening stance, while the EU claims these demands aren't new.
Boeing 737 MAX Order
- Ryanair placed the first firm order for Boeing's 737 MAX since its grounding, buying 75 jets.
- Deliveries are expected to begin early next year and continue through 2024.