Italian EcoMin Gualtieri: We’ll fight hard not to modify the recovery fund

Ahead of Friday’s European Union (EU) summit, Italian Economy Minister Roberto Gualtieri reiterated the country’s support for the new recovery fund worth 750 billion euros.

Key quotes

It is crucial to close EU negotiations over the recovery fund as soon as possible, if possible already in this European council.

We will fight hard not to modify these elements.

There are also some critical points in that proposal on which we will be very determined.

FX implications

Even though EUR/USD fails to respect the upbeat news, currently down 0.04% to 1.1380, comments from the key EU member favoring further stimulus become positive for the pair.