The European Commission has revealed proposals for 750 billion euros for the European Recovery Fund, which expands the ability of the European Union to borrow compared to budgetary resources.
The Commission intends to distribute two-thirds of this cash in the form of donations, not loans, which represents a broad step towards a more central European budget with formal transfers of wealth between member states. The plan still faces opposition from at least 4 countries: the Netherlands, Austria, Finland and Sweden, but it receives German support, and Germany is the largest contributor to the EU budget.
technical outlook
EURUSD Continued Against The Dollar Ascending from the areas of the 1.0980 raid area to penetrate today the levels of 1.1020, and the outlook remains positive with the stability of trading above 1.0980 levels to target the corner 270 and the price of 1.1087 and 1.1139 in the case of the extension of the rise.
