Italy’s Gualtieri: Confident about EU’s coronavirus recovery plan coming into force early 2021
|Italy's Economy Minister Roberto Gualtieri said that he is confident that the European Union’s (EU) coronavirus recovery plan will come into force beginning of 2021, in an interview state broadcaster Rai on Monday.
"I am confident the recovery plan will be fully operational at the beginning of 2021, in January in the best-case scenario," Gualtieri said.
Italy is expected to receive EUR209 billion out of the EU's EUR 750 billion fund agreed to support the Euro area economies hit by the pandemic.
Market reaction
The above piece of news failed to inspire the EUR bulls while EUR/USD remains near-daily highs of 1.1750, mainly driven by the risk-on mood-led broad US dollar retreat. Upbeat Eurozone Services PMI and Sentix Investors Confidence data also underpinned the common currency.
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