Good morning from the Financial Times. Today is Wednesday, January 27th, and this is your

F.T. news briefing. Germany has asked the European Union to restrict the export of vaccine

doses, this after the pace of

inoculations and the EU has fallen behind the US and the UK. Financial

markets are frothy, possibly overvalued, maybe even silly. We will talk

to the FT's markets editor Katie Martin about that.

In India, farmers are angry about agricultural reforms that could erode the country's state-run model.

Plus, Beyond Meat pairs up with PepsiCo. I'm Brendan Greeley in for Mark

Filipino and here's the news you need to start your day. The European Union has

fallen behind the US and the UK in its pace of COVID-19 vaccinations,

and AstraZeneca, the pharmaceutical company, has told Brussels that its vaccine production

will sharply undershoot expectations.

Now Germany's health minister, Janspahn,

is pressing the European Commission to force companies to get permission

before they export vaccine doses.

German companies are manufacturing vaccines, but opposition parties have criticized Berlin for turning over procurement to Brussels.

Boris Johnson, the UK's prime minister, is against any kind of export restrictions at all. He said the creation of vaccines

has been a wonderful example of multinational cooperation. The International Monetary Fund predicts that by 2022 the U.S. and Chinese economies will be only

one and a half percent smaller than before the pandemic.

China has been able to contain the damage from the virus according to the

IMF while the US has spent money on stimulus. That's the real economy.

Meanwhile in markets investors are acting like there is no risk, and stock indices keep hitting new records.

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