By mid-year we are able to disburse first funds to power Europe’s recovery, Ursula Von der Leyen, President of the European Commission said in a press conference following the signing of the Recovery and Resilience Facility.
Key quotes
“Europe’s Recovery & Resilience Facility is signed! Now let’s move forward swiftly. “
“EU countries need to ratify the Own Resources Decision & present solid national plans. “
“Then funds will start flowing under #NextGenerationEU to power Europe’s recovery.”
“We underestimated the capability to scale up manufacturing of vaccines by drug makers.”
Market reaction
The above comments fail to inspire the EUR bulls, as EUR/USD attacks 1.2100 amid persistent US dollar demand across the board.
The spot drops 0.16% on a daily basis to trade at 1.2106, as of writing.
Share
