EU's Gentiloni: Need to work hard to avoid delay in launch of EU recovery fund

Eren Sengezer FXStreet

"There are very robust reasons to expect that the veto of Poland and Hungary on the EU budget will be overcome," European Union Economic Commissioner Paolo Gentiloni said on Tuesday.

"We don't want to consider any plan B to tackle Poland and Hungary's budget veto," Gentiloni added and reiterated that they need to work hard to avoid a delay in the launch of the EU recovery fund."

Market reaction

These comments don't seem to be having a significant impact on the shared currency's performance against its rivals. As of writing, the EUR/USD pair was up 0.25% on the day at 1.1880.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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