The European Commission requires more time to finalise the Brexit trade agreement between the European Union and the United Kingdom. The two sides originally agreed 28 February as the deadline for ratifying the deal, but Brussels insists a “technical extension” to 30 April is necessary to translate the agreement into the 24 different EU languages. The European Parliament has yet to give its opinion on the agreement.
The European Parliament approved a temporary recovery fund of EUR 672.5 billion to address the economic and social consequences of the coronal pandemic in the EU. Member States can submit their plans to Brussels this spring to qualify for the EUR 312.5 billion in subsidies and EUR 360 billion in favorable loans. For the Netherlands, approximately EUR 5.6 billion is available.
The economy of Saudi Arabia, the world’s largest oil exporter, suffered a 4.1% contraction in 2020 as a result of the corona crisis and the weakness in the oil sector caused by the pandemic. This is the most severe contraction for the Middle East’s largest economy in more than 30 years.
The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap increased with 1 basis point to -0.11% compared to previous business day.
In the attachment, today’s market data on money and capital market rates as well as other rates are presented.
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