EU’s Dombrovskis: We should agree on a strong and coordinated EU recovery plan

Following the European Commission’s Spring 2020 economic projections, Vice President Valdis Dombrovskis took to twitter to express his take on the bloc’s economic outlook.

Dombrovskis tweeted out: “Each EU country’s economic recovery will vary due to many different factors. As we emerge from #coronavirus impact, we need to avoid major disparities taking root in the single market. That's not good for any country: we should agree on a strong and coordinated EU recovery plan.”

“The EU will come out of 2020 with higher debt, which could hold back investment and growth. We should support equity and equity-like investments to protect workers and the financial sector. And work harder to create a Capital Markets Union to diversify funding sources for companies,” he added.

The EUR/USD pair continues its trip lower, printing fresh two-week lows near 1.0790 amid a broad-based US dollar buying.