Germany's Merkel: Coronavirus relief measures for economy were absolutely necessary

Germany's coronavirus relief measures for the economy were absolutely necessary, Germany Chancellor Angela Merkel said on Friday.

"We can afford all agreed coronavirus relief measures, we don't go too far into future with coronavirus aid for the economy," Merkel added. "Other EU countries profit from the European coronavirus aid more than Germany does, this is right."

Market reaction

These comments don't seem to be having a significant impact on the shared currency's performance against its rivals. As of writing, the EUR/USD pair was up 0.72% on a daily basis at 1.1906.