Germany's Scholz: Hoping money from European recovery fund can flow from 2021

The European Union's finance ministers will discuss how to give the EU its own fiscal resources at the next week's informal meeting in Berlin, German Finance Minister Olaf Scholz said on Thursday, as reported by Reuters.

"Investment is key in kick-starting recovery in Europe," Scholz added and noted that he hopes money from the European recovery fund can flow from 2021.

Market reaction

These remarks don't seem to be having a significant impact on the shared currency's performance against its major rivals. As of writing, the EUR/USD pair was down 0.37% on a daily basis at 1.1810.