ECB's de Guindos: EU deal is step-change for better in European integration

The European Union's agreement on the budget and the recovery fund is a step-change for the better in the European integration, European Central Bank's (ECB) Vice President Luis de Guindos said on Thursday.

"In Spain's case the (ECB purchase) figure, if what we have in mind roughly comes to pass, is 120 billion euros in Spanish public debt," de Guindos," de Guindos added, as reported by Reuters. "Commercial paper backed by the government with adequate rating is eligible for PEPP."

Market reaction

The EUR/USD pair largely ignored these comments and was last seen trading at 1.1591, where it was up 0.2% on a daily basis.