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European Central Bank (ECB) Vice President Luis de Guindos said on Friday that he expects the growth in the eurozone in early 2021 to be weaker than initially projected, as reported by Reuters.

Additional takeaways

“The aim to maintain favourable financing conditions has been accomplished.”

“It would be illegal for the ECB to cancel sovereign debt it holds.”

“Debt cancellation doesn’t make economic sense.”

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 trading at 1.2021, gaining 0.42% on a daily basis.