After Hungary and Poland blocked the adoption of the European Union’s 2021-2027 budget, EU Trade Commissioner Valdis Dombrovskis said on Monday that there needs to be a speedy resolution of the budget issue, per Reuters.
“Rule of law within budget has been something discussed for a long time,” Dombrovskis further noted. “We expect slower economic recovery than previously forecast due to the second COVID wave.”
Market reaction
These comments were largely ignored by market participants. As of writing, the EUR/USD pair was posting small daily losses at 1.1827.
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