EU's Gentiloni: EU project at stake if strong common response not agreed

The European Union project is at stake if members fail to agree on a strong common economic response to the coronavirus crisis, EU Economic Commissioner Paolo Gentiloni said on Friday.

On the same note, ECB President Lagarde reiterated that a common European fiscal response is desirable. "It needs to be swift, sizeable and symmetrical," Lagarde added while speaking on economic policies for the aftermath of the COVID-19.

Market reaction

The EUR/USD pair largely ignored these comments and was last seen posting small daily gains at 1.0840.