Germany's Scholz: Optimistic we will reach a compromise on reovery plan

Eren Sengezer FXStreet

Commenting on the European Council President Charles Michel's pan to lower the side of the EU budget to bring frugals on board, German Finance Minister Olaf Scholz said that he was optimistic that they will reach a compromise on the EU recovery plan.

"Discussions on the EU recovery fund could take longer than usual," Scholz added.

Earlier in the day, Scholz reiterated that they are determined to ensure the means from the recovery fund are available swiftly.

Market reaction

The EUR/USD pair largely ignored these comments and was last seen trading at 1.1228, gaining 0.06% on a daily basis.

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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