- EU announces creation of €750bn Coronavirus recovery fund
- Fund will be used to provide low-interest loans to 27 members of EU bloc while also disbursing grants to zone’s worst-hit economies
- In response to united fiscal response to crisis, scale of fiscal support becomes increasingly sanguine towards European financial assets
- Deltec Bank upgrades its stance on European Equities and Euro currency, believes these assets are set to outperform in near-and-medium term
Deltec Bank & Trust, a Bahamas-based private bank recently awarded the title of ‘Best Private Bank in the Caribbean’ in 2020 (http://nnw.fm/Cd59O), has published its latest investment research note entitled “EUreka” (http://nnw.fm/OHEsb). The piece looks into the intricacies underpinning the European Union’s proactive fiscal response in dealing with the ongoing coronavirus outbreak and its effect on Eurozone financial asset prices and the Euro.
In the early hours of July 21, the European Union announced that it would be creating a €750 billion coronavirus recovery fund, as an addendum to the Eurozone’s existing €1.1 trillion, 7-year budget. The recovery fund consists of €360 billion in low-interest loans available to all members of the block (to be repaid over a 30-year period) as well as €390 billion in grants to member states hardest hit by the coronavirus. Given that the funds disbursed through the…
NOTE TO INVESTORS: The latest news and updates relating to Deltec are available in the company’s newsroom at http://nnw.fm/Deltec
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