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ECB Lagard: EU’s Fiscal Package Could’ve Been Better, But Reasonable

Adel 22 July, 2020 6:06 pm Market Update

On Tuesday, the EU member states approved a 750 billion euro recovery fund which included 360 billion euros in loans and 390 billion euros in grants. The money will be raised collectively by selling bonds.

European Central Bank (ECB) President Christine Lagarde talks on Wednesday, she said that the fact that all European Union member states supporting the most affected countries shows the solidarity within the bloc.

Lagard said that proportions between 360 billion euros in loans and 390 billion euros in grants could’ve been better, but it’s an ambitious package.

The EUR/USD pair was up 0.52% trading at 1.1585.

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