ECB's de Guindos sees EU agreement on recovery fund by end-July

MADRID (Reuters) - European Central Bank Vice-President Luis de Guindos said on Friday he expected European leaders to reach an agreement on the recovery fund “very soon” and before the end of July.

“I hope that there will be (...) a relatively quick agreement, I don’t know if it will be this weekend, but surely if it is not this weekend, which would be best, I am convinced that there will be an important progress, and I hope that before the end of July there will be an agreement, which would be positive,” De Guindos told an event in Madrid.

European Union leaders gathered on Friday for crunch summit talks on a multi-billion-euro plan to breathe life into their economies, their first face-to-face summit since the coronavirus pandemic plunged the bloc into its latest crisis.

Reporting by Jesús Aguado and Emma Pinedo; editing by Andrei Khalip