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

EU nations will get their latest health check today, when the bloc’s executive publishes a series of reports on the state of their economies and potential imbalances. These rarely make for a captivating read and their efficacy is often questioned as requests are ignored — think of Germany and its large current account surplus. But calls this year for countries with fiscal space to invest more come amid a broader push for government stimulus to lift the region’s economy. With a backdrop of weak growth across Europe, and the outlook further clouded by the coronavirus outbreak, for once member states may listen — at least with half an ear.

What’s Happening

Nuclear Talks | Diplomats seeking to hold the beleaguered Iran nuclear deal together convene today in Vienna in their first meeting since European countries triggered an escalation in the standoff with Tehran last month. No decisions are expected, as the EU wants a return to agreed nuclear limits, while Iran is insisting on promised economic relief.

Who’s Next? | The leadership race in Angela Merkel’s CDU party rumbles on, and two leading contenders — her long-time antagonist Friedrich Merz and her moderate ally Armin Laschet — speak today at carnival events on opposite sides of Germany. Laschet became the clear front-runner Tuesday when he secured the support of Jens Spahn, moving to unite centrist and conservative factions in the party.

Tense Start | Post-Brexit negotiations are set for a tumultuous start on Monday, with the two sides exchanging barbs about the terms that should be attached to the future relationship. The EU’s executive arm was mandated to seek a deal that will keep the U.K. aligned to the bloc’s rules and guarantee access to British fishing waters, demands the U.K. says it won’t accept.

Team Green | In the space of just a few months, climate policy has been catapulted to the top of Europe’s political agenda, partly the result of work by a team of lobbyists and activists you have probably never heard of. Here’s who they are.

Cyber Sanctions | The EU may target Russian and Chinese-linked entities, as well as several individuals, with sanctions over hacking, adding to signs of increasing alarm in the bloc over network security. We’re told formal discussions among EU diplomats and security experts will begin as soon as Friday and could result in the first application of the bloc’s so-called cyber-sanctions regime.

In Case You Missed It

Limited Firepower | If the coronavirus outbreak morphs into a regional economic crisis, the European Central Bank isn’t yet poised to rush to the rescue, with limited ammunition to add monetary support. Before deploying any policy tools, officials are likely to renew their longstanding case for governments such as Germany’s to deliver the next big push for economic growth.

Hugs & Kisses | As the illness takes hold in Europe, disease experts have simple advice to limit its spread: no more hugs and kisses. While avoiding such behavior may be easier in places like Japan where bowing is a common social greeting, in Europe it may be trickier. Meanwhile, here’s how economists are war-gaming the threat of a pandemic and its economic price tag.

No Privacy | The EU’s review of Google’s plan to buy Fitbit won’t involve privacy regulators, antitrust chief Margrethe Vestager said, days after data watchdogs warned about how tech giants could use M&A to access citizens’ private information. That’s as the Fitbit acquisition is running into a wall of antitrust and privacy worries in the U.S., Europe, and Australia.

Helping Farmers | Spain responded to weeks of protests by farmers — the first major bout of unrest for Pedro Sanchez’s fledgling administration — by announcing steps to support prices. The government will prohibit sales of agricultural products below cost, and make it easier for olive growers to access subsidies, after they were battered by drought and an increase in U.S. tariffs.

Syria Crisis | Turkish President Recep Tayyip Erdogan’s effort to co-opt European leaders to try to defuse a potential new refugee crisis in Syria has faltered, with Russia ruling out a four-way meeting at this time with Germany and France. Meanwhile, Turkey is taking losses in Libya, as the EU prepares to launch a naval mission aimed at preventing Erdogan’s interference in that conflict.

Chart of the Day

Global trade had a rough 2019, as weaker growth and a manufacturing recession took their toll. The decline isn’t huge, but it’s the first since 2009, reflecting President Donald Trump’s protectionist stance and the U.S. trade war with China, as well as Germany’s industrial slump. 

Today’s Agenda

All times CET.

• 12 p.m. Italian Health Minister Speranza, EU Health Commissioner Kyriakides, WHO Europe Director Kluge, ECDC Director Ammon give news conference in Rome
• 1:30 p.m. EU Commission to publish reports on EU member-states finances, including latest on Greece
• 3 p.m. EU chief Brexit negotiator Barnier speaks on the European Green Deal
• Delegation of EU Parliament Budgetary Control Committee begins fact-finding mission to Prague
• Meeting of Joint Commission of the Joint Comprehensive Plan of Action (JCPOA) in Vienna
• CDU leadership candidates Laschet and Merz speak at carnival events
• Spanish Supreme Court to rule in credit-cards case that could mean a hit for banks

--With assistance from Craig Stirling and Jonathan Tirone.

To contact the authors of this story: Viktoria Dendrinou in Brussels at vdendrinou@bloomberg.netNikos Chrysoloras in Brussels at nchrysoloras@bloomberg.net

To contact the editor responsible for this story: David Merritt at dmerritt1@bloomberg.net, Iain Rogers

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