EU Stimulus Talks, U.K. Home Sellers, Turkish Rates: Eco Day

(Bloomberg) -- Welcome to Monday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the week:

• The four European Union governments that have been holding up negotiations over a massive stimulus package to reboot the bloc’s economy are ready to agree on a key plank of the deal
• With job cuts mounting and costly furlough programs that can’t last forever, Europe is at risk of a devastating increase in unemployment that won’t be easy to reverse
• Home sellers across Britain are optimistic again after the government temporarily cut a tax on property. Meanwhile, rents for central London homes saw a record decline last month
• Talks on a new coronavirus stimulus package will start at the White House on Monday with Senate Majority Leader Mitch McConnell, Treasury Secretary Steven Mnuchin and others
• The U.K. is about to test the risks of a wider confrontation with China that’s been a long time coming
• The Turkish central bank’s former chief economist said interest rates should go no lower for now after a months-long easing cycle drove inflation-adjusted borrowing costs deep below zero
• Japanese exports fell by more than 20% for a third straight month in June, even as key markets started to reopen from virus shutdowns
• Brazil’s president berated social-isolation measures designed to slow the spread of coronavirus, saying they’re destroying jobs and compounding pain for Latin America’s largest economy
• Panic buying and lockdown-driven price increases pushed up food prices in major economies in sub-Saharan Africa, the world’s most food-insecure region
• Here’s why China’s new tax push has expats from the mainland worried

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