ECB's de Cos: Spanish economy to grow strongly in third quarter

European Central Bank (ECB) Governing Council member Paolo Hernandez de Cos said on Tuesday that he expects the Spanish economy to grow strongly in the third quarter. However, de Cos further acknowledged that the recovery is likely to be "incomplete and uneven," as reported by Reuters.

"Spanish companies with liquidity strains due to COVID-19 could suffer solvency problems," de Cos added.

Market reaction

These comments don't seem to be having a significant impact on the shared currency's performance. As of writing, the EUR/USD pair was up 0.18% on the day at 1.1956.