Today, the President of the European Commission, Ursula von der Leyen, could publish the First details of EU plans to curb high energy costs. In the opinion of Commerzbank economists, the euro could benefit if the measures are convincing.
Any support for the euro from the European Commission?
“Numerous members of the ECB council recently pointed out that they would accept a recession so that inflation would return to the desired level. But it remains highly questionable whether central bankers will really stand their ground when a downturn economy takes its toll.”
“If the Commission came up with convincing measures that could ease the burden on the economy, the euro could benefit. After all, this would increase the likelihood that the ECB could devote its full attention to fighting inflation.”
Source: Fx Street
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