Proportions between grants and loans in the EU’s fiscal package, which includes the recovery fund, are reasonable, Christine Lagarde, President of the European Central Bank, said on Wednesday.
“The balance could have been better but it’s an ambitious package,” Lagarde added, as reported by Reuters. “The baseline growth forecast is probably in the right place.” Regarding the economic outlook, Lagarde reiterated that the economic recovery was uneven and uncertain.
Market reaction
These comments don’t seem to be having a significant impact on the shared currency’s performance against its rivals. As of writing, the EUR/USD pair was up 0.52% on a daily basis at 1.1585.
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