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The European Commission has urged the EU governments to step up the response to the coronavirus pandemic amid the alarming spike in infections, Reuters reported on Wednesday.

Key takeaways

“EU Commission calls for coordinated testing strategies in EU states, recommends the use of antigen tests.”

“EU extends to April 2021 suspension of customs duties, sales tax on import of medical equipment.”

“EU states could exempt from sales tax COVID-19 testing kits and vaccines.”

“EU Commission launches new joint procurement for medical equipment for vaccination, such as syringes, disinfectants.”

“EU Commission proposes fast-track border checks within the EU for goods transported on rail, water, flights.”

“EU Commission makes available nearly 2,5 billion euros for upfront payments to secure potential COVID-19 vaccines.”

Market reaction

This headline doesn’t seem to be having a significant impact on the shared currency’s market valuation. As of writing, the EUR/USD pair was down 0.46% on the day at 1.1740.