more than on this let's bring in maria demurred says she's an economist and a deputy director at bruegel a brussels based think tank devoted to policy research and economic issues welcome to the program maria now the u.k.'s prime minister boris johnson says he wanted to see substantial process in the talks he set a deadline for today now the e.u. says we want a deal but not at any cost you know the ins and outs of brussels with all its policymakers and lobbyists so will there be a deal when i hope so i think at the interesting thing about all of this is that the incentives are aligned to both of the parties want to d.n. or need a deal and meaning that no deal it will be much worse than an idea so i think you know i wouldn't get something even if you don't get it today who will get it by the end of the end one of the biggest stumbling blocks in the negotiations. yeah there are 3 sticking points actually and to be fair the 2 of them the most important ones have been with us for the very beginning which means you know they are really sticking points and it's important to get them right then

to be negative 2 down 11 percent for all of 2020 now earlier we spoke to maria de merits is from bruegel that's a think tank in brussels she offers this analysis. well there is an interconnection between managing the disease and managing the economy so i think the priority right now is certainly to support the hospital so they can they can help at this situation they can monitor the situation in some countries belgium where i live at the situations are really saturated in the hospital so i think that that would be the number one priority now beyond not is there is the add there is other other things that we need to manage on the whole that is the schools i think that's crucial that schools remain open as they possibly can because this can be a surgeon inequality at the end of this month then again the schools may remaining open is absolutely crucial then after that is is indeed they kaname and the sectors that have been hits at the most if we can sustain people in employment that would be at a very important thing to try and protect and then of course after that there is issues of protec

we are going to be speaking to guntram wolff of a bruegel. this is bloomberg. ♪ guy: this is the european close on "bloomberg markets." let's talk about what is happening with the brexit stories. eu leaders will gather at the end of the week in brussels. over the weekend, british prime minister boris johnson spoke with france's emmanuel macron and germany's angela merkel to figure out a way to break through the recent difficult ease. going up -- recent difficulties. joining us now is guntram wolff, bruegel director. do you expect a deal at all? guntram: i would really like to see a deal. i don't think that a deal is likely this week, but overall, i am an optimist. that is why i really think there will be a deal. i think there is really a lot at stake. looking back at more than three years of negotiation, so much was at stake. was very rapid and a very united from the beginning, and i predict that it vis-a-vis theited united kingdom, so the u.k. will not achieve a sort of breaking of the front of europeans. united, but the question is will it

coming up next on the european --se, antrim wolf, bruegel ,uropean close, guntram wolff bruegel directors bloomberg. ♪ let's get a check on the bloomberg first word news, starting in the u.k. a trade deal between the u.k. on the european union still hanging in the balance. british prime minister boris johnson called the leaders of germany and france, and told them the you would have to back down from its hard-line position on the politically explosive issue of fisheries. officials say they are confident johnson will not carry out his threat to walk away if there is no deal inside. the senate judiciary committee has begun four days of confirmation hearings for judge amy coney barrett. senate republicans are bowing to have barrett sitting on the court by election day. democrats are concerned that she will rule against abortion rights of confirmed is expected. that is your first word news update. guy: let's continue with that subject and those hearings. here is a timeline we are currently looking at. kratzublicans, tim greta -- 10 democrats will vote on whether to advance barrett's nominati

european union a short while ago i asked maria says deputy director of the brussels based think tank bruegel what the economic in. cations of that would be some of it might be political expediency bust your aim by the men at the end of the day if you are a producer you're looking after the best of the country you really do want a deal i don't think i can see a world in which you can do better otherwise as so i have you know the careless might ensue if we don't get a deal but i think that all everything will be done on both sides to actually get something even if it's small and in fact he will have to be small in the sense they will be the confines for something that can built on an ac is by adding masses of these brueghel think tank speaking their time for some serious k. pop now shares and the management company of the korean boy band b.t.s. perform strongly on a stock market debut huge interest in the i.p.o. as a reflection of the massive global success story that is korean pop and its current contents. even though she could only watch the show online wearing a mask in the presence of a fe

let's bring in the marriot america says she is the deputy director of the brussels based think tank bruegel welcome to the program maria so germany france spain all posting strong recovery figures for the 3rd quarter how meaningful is that though when many european countries are about to or have already gone into another lockdown. one of these meaningful it isn't representative of the opening up of the economies after the shutdown so we see that booth closing the economy and opening it up makes a difference in the in the numbers i think that's an important thing maybe the opening up was too quick it was done in in a very kind of generous way i think this 2nd wave of these is showing us that we're going to see ripple effects both in the house from citizens but also in the economy so i think it's important that we find a way of dealing with the need for possibly not just these were intended by connex this city next summer the german government has announced another aid package for the hospitality sector which is likely to be hardest hit by this new lockdown what will be essential in bolsterin

theext, we will get back to brexit discussions with guntram wolff, director of the think bruegel.rg. ♪ anna: welcome back to the european market open. a half hour into your trading session. we seem to be lifted by some renewed optimism around stimulus in the u.s. tuesday?e dashed on that is lifting the broad european equity story. let us get an update with laura wright. optimism about progress on a rescue package in washington. nancy pelosi says a pre-election deal remains possible that she has set a tuesday deadline for making more headway with the white house. president trump is confident he can persuade the gop to go for a deal. china's equity -- economic recovery is continuing. gdp grow 4.9%. that is lower than forecast but faster than the expansion seen in the second quarter. regained alla has of the ground it lost in the first half of the year. industrial output and retail sales have improved. turned her labour party a majority with a bigger share of the votes in more than 70 years. new zealand introduced proportional representation in 1996. ardern is considering a coalition

favoring its own products in search results and stopping websites from using rival ads sellers only know bruegel has paid more than $9000000000.00 in fines to the e.u. so there's lots to discuss here joining me now from st gallon in switzerland is miriam by 10 miriam is assistant professor of law and economics at the st gallon university miriam great to have you on the program. so how likely is it then the breakup of facebook and other big tech companies well the digital chief of the european commission said yesterday to be cautious with this instrument because we would have very lengthy legal proceedings but one question also is what would breaking up big tech achieve for consumers an important thing to understand about these platforms is that their networks and so they become more valuable as more users join them and that means that already big platforms tend to become bigger and we have to ask ourselves if we were to break up a company like facebook if the result would simply be that the process repeats itself and we end up with one big social network once again yet it's interesting miriam th

altogether as a prospect we put to maria to matt says stephanie director of the brussels based think tank bruegel some of it might be political expediency posturing by the man at the end of the day if you're a producer you're looking after the best you can 3 you really do want a deal i don't think i can see a world in which you can do better otherwise as so you know the chaos you might ensue if we don't get a deal but i think that all everything will be done on both sides to actually get something even if it's small and in fact he will have to be small in the sense that it will be the confines for something that we can build on in later years. but one u.k. sector desperately hoping for a deal is the automotive sector car makers and suppliers in the u.k. are closely linked to consummate continental european partners most companies are already expecting an increase in paperwork but additional tariffs could put companies out of business. this machinery has come to a standstill for now car parts supplier good fish has no use for it in the u.k. anymore chief executive greg mcdonald plans to send it al

altogether as a prospect we put to maria de met sister director of the brussels based think tank bruegel it might be political expediency posturing by the men at the end of the day if you are a prime minister you're looking after the best of the country you really do want a deal i don't think i can see a world in which you can do better otherwise as so i have you know the chaos might ensue if we don't get a deal but i think that all everything will be done on both sides to actually get something even if it's small and in fact it will have to be small in the sense that it will be the confines for something that we can build on in later years one u.k. sector desperately hoping for a dale is the automotive sector comic is and supplies in the u.k. are closely linked to their consummate continental european partners most companies are already expecting an increase in paperwork but additional tariffs could put companies out of business. this machinery has come to a standstill for now car parts supplier good fish has no use for it in the u.k. anymore chief executive greg mcdonald plans to send

that's a prospect we put to maria de met sis deputy director of the brussels based think tank bruegel some of it might be political expediency post your read by the man at the end of the day if you're a producer you're looking out for the best you can 3 you really do want a deal i don't think i can see a world in which you can do better otherwise as so you know the careless might ensue if we don't get a deal but i think that all everything will be done on both sides to actually get something even if it's small and in fact it will have to be small in the sense that it will be the confines for something that we can build on in later years. well the automotive sector is among the industries watching in suspense whether brit's unami you can agree to a free trade pact carmakers and supplies in the u.k. are closely linked to the continental european partners most companies are already expecting an increase in paperwork but additional tariffs could put companies out of business. this machinery has come to a standstill for now car parts supplier good fish has no use for it in the u.k. anymore