U.K. Deficit, Post-Brexit Trade Deal, Turkey Surprise: Eco Day

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Welcome to Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend.

  • U.K. government borrowing soared to 173.7 billion pounds ($222 billion) in the first five months of the fiscal year as the costs of coronavirus pandemic continued to mount
    • U.K. Chancellor Rishi Sunak’s latest salvo against the economic chaos of the coronavirus marks a shift in tactics that risks makinga painful spike in unemployment inevitable
    • Sales ofU.K. homes costing over 1 million pounds doubled last month, outperforming the rest of the market as wealthier buyers sought more space following the Covid-19 lockdown
    • Londoners are looking forjobs outside the capital as the city struggles to generate new work after the coronavirus slump

    European Union negotiators have agreed not to allow their opposition to Boris Johnson’s plan to break international law distract them from trying tosecure a deal over the bloc’s relationship with the U.K. after Brexit

    • Anxiety is kicking in forEuropean executives as time — and trust — run short for a trade agreement between the U.K. and EU

    — With assistance by Sharon Chen, and Lin Zhu

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