Germany's Scholz: Seeing progress in economic recovery from coronavirus shock

"We see progress in the economic recovery from the coronavirus shock, that's a good sign," German Finance Minister Olaf Scholz told Reuters on Monday.

Additional takeaways

"Pandemic remains a huge challenge, Germany will suspend debt rules also in 2021 to allow more net borrowing on a large scale."

"Our goal is to stick to debt limits from 2022 but to achieve this we have to fight crisis with all our strength this year and next."

"EU finance ministers to discuss at berlin meeting this week how to pay back joint EU debt, how to create new revenue flows for the bloc."

"I expect progress on corporate minimum taxation as well as digital taxation on the international level, this should help avoid large international trade conflict."

Market reaction

These comments 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 0.16% on the day at 1.1818.