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The economic consequences of the coronavirus pandemic will be felt for years to come, German Chancellor Angela Merkel said on Monday, as reported by Reuters.

“I hope we can find a solution to ensure the passing of the recovery fund and the EU budget,” Merkel added and noted that the next EU summit will be crucial in this respect.

Market reaction

These remarks don’t seem to be having a significant impact on market sentiment. As of writing, Germany’s DAX 30 Index was up 0.55% on the day at 13,408.