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Crisis measures are justified by pandemic but should not be taken beyond crisis without deepening institutional functioning of democracy at the union level, European Central Bank Executive board member Yves Mersch said on Thursday.

“Europeanisation has reached its peak in common debt issuance,” Mersch added, as reported by Reuters.

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 virtually unchanged on a daily basis at 1.1761.