Germany's Merkel: Differences remain on budget but Germany will offer compromises

"Time is pressing to reach a deal on the EU proposals for budget and recovery fund," German Chancellor Angela Merkel said on Tuesday, as reported by Reuters.

"Differences remain but Germany will bring compromises to the table," Merkel added.

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 0.55% on a daily basis at 1.1403 and the EUR/GBP pair was gaining 0.66% at 0.9089.