EU's Donahoe: There is a will to reach agreement on EU recovery fund

Irish Finance Minister and the new President of the Eurogroup, Paschal Donahoe, said that he believes there is a will to reach an agreement on the EU recovery fund. 

"I believe there is much to be done, there are many complex and challenging decisions that need to be made but I believe the will is there to find a way to reach an agreement," Donahoe told a video news conference, per Reuters. "The normalisation of eurozone fiscal policy should come after recovery is well underway."

Market reaction

The EUR/USD pair largely ignored these comments and was last seen trading at 1.1295, losing 0.3% on a daily basis.