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Following the European Commission’s Spring 2020 economic projections, Vice President Valdis Dombrovskis took to twitter to express his take on the bloc’s economic outlook.

Dombrovskis tweeted out: “Each EU country’s economic recovery will vary due to many different factors. As we emerge from #coronavirus impact, we need to avoid major disparities taking root in the single market. That’s not good for any country: we should agree on a strong and coordinated EU recovery plan.”

“The EU will come out of 2020 with higher debt, which could hold back investment and growth. We should support equity and equity-like investments to protect workers and the financial sector. And work harder to create a Capital Markets Union to diversify funding sources for companies,” he added.

The EUR/USD pair continues its trip lower, printing fresh two-week lows near 1.0790 amid a broad-based US dollar buying.