, ., my mercosur? it is a tricky question _ mercosur? it is a tricky question because i mercosur?cky i question because there is always a winner and a loser but the agreement is protecting these sensitive sectors with high standards for quarters of tariffs and on the other side, even sectors that will gain, such as sheep and beef and binder sectors, where we can expect higher increase towards mercosur, it is a big market with high terrace.— mercosur, it is a big market with high terrace. this meeting is takin: with high terrace. this meeting is taking place _ with high terrace. this meeting is taking place today. _ with high terrace. this meeting is taking place today. what i with high terrace. this meeting is taking place today. what do | is taking place today. what do you then will happen and will fundamentally this deal finally go through between the eu and mercosur because the agreement todayis mercosur because the agreement today is already signed so what we expect is an increase in trade within a two parts. but to come back _ trade within a two parts. but to come back to _ t

however there are mechanisms that can be used even being within mercosur. so we think that it can be done without necessarily having to leave mercosur. tom: we have a great lineup of guests, possibly with less good sideburns, from the world economic forum. david velez founder of nuba nk. those exclusive conversations coming up. stay with us. this is bloomberg. ♪ tom: brazilian fintech nubank now has reached 10 million users in mexico and plans to expand its product portfolio. the bank is considering moving his legal base here to britain, which could be a major win for the u.k.'s efforts to attract tech companies. joumanna bercetche is at the world economic forum in davos. joumanna: we will talk about some of nubank's expansion efforts but before that want to welcome ceo david velez. you are the talk of the town is the return of the trump administration. i want to start off asking you how you are thinking about it as brazil's largest fintech company and the largest financial services company in latin america. the relationship between lula and trump has not b

there is the eu-mercosur trade agreement. so i need to i think we need to work on all of these fronts. still, companies are worried and they are not very optimistic regarding trade. but i mean, there may be positive surprises. let's wait and see. >> let's see what will happen in the end. but i also want to get your thoughts on fiscal policy. a lot of conversations around whether we're going to see germany reforming the debt brake. tell us how businesses are feeling about this upcoming election from a fiscal policy perspective, what would they like to see from the new government? >> i think what they would like to see from the new government is above all structural reforms. it's not so much about fiscal policy. fiscal policy does play a role. and indeed there will be some elements of more debt financing. as a matter of fact, we've also seen that in recent years we have the debt brake. but at the same time, we have a special fund for defense of 100 billion completely debt financed. so debt financing is not so low in germany, bu