EU Commission unveils plan to raise up to EUR800 billion to fund the recovery
|
The European Union (EU) Budget Commissioner Johannes Hahn unveiled on Wednesday, a strategy to raise up to EUR800 billion in debt for recovery fund, which is expected to be repaid by 2058.
Additional takeaways
“EU to use a diversified funding strategy to raise as much as EUR800 billion until 2026.”
“Borrowing to include green bonds, EU bills.”
“Borrowing to roughly average EUR150 billion per year, will be repaid by 2058.”
Market reaction
EUR/USD ignores the above announcement, as it remains at the mercy of the US dollar dynamics after the tame inflation report. ECB Lagarde’s and Fed Chair Powell’s speeches are eagerly awaited.
The spot was last seen trading at 1.1954, up 0.08% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.