Following the EUR 500 billion coronavirus rescue deal reached by the European Union (EU) finance ministers early Friday, Italy’s Economy Minister Roberto Gualtieri expressed his worries on how the financing to the virus embattled economies will be worked out.
He said: “We will face battle over coronabonds.”
Separately, Dutch Finance Minister Wopke Hoekstra noted: “The ESM can provide financial help to countries without conditions for medical expenses. It will also available for economic support, but with conditions. That’s fair and reasonable. We are and will remain opposed to eurobonds. We think this concept will not help Europa or NL on the long-term.”
EUR/USD stuck in range around 1.0950
Amid a broadly weaker US dollar and holiday-thinned markets, EUR/USD keeps the upside intact while wavering around the 1.0950 level so far this Good Friday.