Italy's Draghi: Case for monetary and fiscal expansion remains compelling

"The protracted economic uncertainty means that the case for monetary and fiscal expansion remains compelling," Italian Prime Minister Mario Draghi said on Friday, as reported by Reuters.

Additional takeaways

"Additional effort is required to overcome the impact of the health crisis on societies and employment."

"With higher levels of economic activity than before pandemic, the rise in debt can be compensated."

"Investors must be reassured that fiscal prudence will return as soon as the recovery is self-sustained."

Market reaction

These comments were largely ignored by market participants. As of writing, the EUR/USD pair was up 0.05% on the day at 1.1912.