France's Macron: France and Germany propose for EU to raise debt jointly
|"The Franco-German initiative is a result of close cooperation with countries like Italy, Netherlands," French President Emmanuel Macron told reporters on Monday. "For the first time, France and Germany propose for the EU to raise debt jointly," Macron added.
Additional takeaways
"Recovery fund should be given 500 billion euros for EU grants to go to hardest-hit sectors and regions."
"This recovery plan will be supported by commitments from member states to undertake healthy economic policies and reform programme."
"These 500 billion euros will be grants and not loans. This a major step forward."
"Europe is drawing lessons from the past financial crisis."
Market reaction
The EUR/USD pair shot higher on these remarks and was last seen up 0.62% on the day at 1.0882.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.