Germany's Merkel: Answer to this unprecedented crisis has to be effective

Eren Sengezer FXStreet

The European Union's response to the unprecedented coronavirus crisis has to be effective, German Chancellor Angela Merkel said on Thursday, as reported by Reuters.

"It would be less good if it took us longer to set up a recovery fund," Merkel added. "I can't imagine not getting there over the course of this summer."

Market reaction

These comments don't seem to be having a significant impact on the shared currency's performance. As of writing, the EUR/USD pair was losing 0.08% on a daily basis at 1.1241.

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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