Eurogroup fails to agree on a common text over coronavirus response, talks to resume Thursday
|According to Reuters, Eurogroup, a group of the European Union (EU) finance ministers, is expected to resume Thursday after the ministers fail to agree on a common text over the coronavirus response following the meeting that ran over 13 hours.
Eurogroup President Mario Centeno tweeted out: “After 16h of discussions we came close to a deal but we are not there yet. I suspended the #Eurogroup & continue tomorrow, thu.
My goal remains: A strong EU safety net against a fallout of #covid19 (to shield workers, firms &countries)& commit/ to a sizeable recovery plan.”
After the fallout, French Finance Minister Bruno Le Maire was quick to add: “all European countries must rise to meet the challenge of these exceptional times to reach an ambitious agreement.”
EUR/USD reaction
The shared currency is seeing some fresh supply on the above remarks, capping the EUR/USD recovery near 1.0885 region. The spot now trades at 1.0850, down 0.38% on a daily basis.
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