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French President Emmanuel Macron and German Chancellor Angela Merkel have taken the initiative to create a common budget for the euro area. However, 12 countries of the European Union opposed this project, the Financial Times reported referring to the letter of the Minister of Finance of the Netherlands, Wopke Hoekstra, to Eurogroup president Mario Centeno. The Dutch minister stated about the existing “wide discrepancies” in the issue of the need to create a unified budget for the euro area. He noted that a number of countries expressed concerns about “moral risks” and the issues of “fiscal neutrality' that arise when considering this project.
Financial markets saw record heights earlier on Friday, with the Euro continuing its 21-month gain streak and gold prices hitting its highest level amid a weakened Dollar. The Euro soared above the Dollar by 1.7%, trading at $1.1616 for the ...
The Dollar fell on Tuesday, with the Euro and the British Pound Sterling gaining strength on the back of news that European Union leaders have agreed to roll out additional recovery funds in the region. New hopes for a potential COVID-19 vaccine ...
The euro reached its highest level since early March after the European Union agreed on a deal for a massive stimulus package to support the bloc’s economy from the coronavirus pandemic. The deal was finalized after a round of compromises ...
The euro steadied at four-month highs on the dollar after investors pinned hopes on the EU economic rescue fund as European leaders are expected to break a deadlock and agree on a deal. EU leaders had differing stands on the proposed 750 billion ...
The euro hit a four-month peak against the dollar on Wednesday on hopes that the European Union would implement economic stimulus and deeper fiscal integration to support the economy amid the pandemic. The euro rose to $1.1423, its highest ...
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