Subscribe to our social channels to get the latest news about Hungary!
Bad news for forint? Brussels proposed to suspend 7.5 bn EUR EU funds, opened catwalk
Change language:
The European Commission revealed its decision this morning in the budget conditionality procedure they launched against Hungary because of rule-of-law concerns and corruption. Press reported earlier that 15.8 bn euros were at stake. The good news is that, according to their proposal revealed today, the EC would “only” freeze approximately 7.5 bn euros. Furthermore, they also laid the ground for a future compromise that would allow the Hungarian government to hold that money. Below you may read the details.
The European Commission’s decision is only a proposal for the Council of the European Union, a final decision-maker body on the issue of ministers of finance. However, they will decide with a majority so nobody can veto. As a result, Hungary may become the first member state losing considerable EU financial support due to systematic corruption and fraud, Népszava reported. But there is a way out for Orbán’s administration.
Hungary will not be able to access that sum if the government fails to enact some measures that are able to repel corruption more efficiently. The 7.5 bn euros the European Commission’s proposal talks about is the 65 percent of three cohesion programs for Hungary.
“Today’s decision is a clear demonstration of the Commission’s resolve to protect the EU budget and to use all tools at our disposal to ensure this important objective,” Budget Commissioner Johannes Hahn said in a statement following a meeting of the College of Commissioners, politico.eu reported.
Read alsoLeaked speech: Orbán said when Hungary should consider leaving the EU
Whatever the dictator says or wherever he tries to point the finger of blame, never forget that he and his party have done this to our country with their lies and corruption. He alone is accountable for any funds being withheld. Dismiss; distort; distract; dismay.
He is talking about leaving the EU and they still give him (yes, give him and not to Hungary) billions…morons!
NGOs ( Soros funded Organizations
The EU keeps yelling corruption vs their stupidity. The EU is very much responsible for the war in Ukraine- with help of the Biden regime. The graft of the then Vice President – now president and his son and brother is off the charts. All on video withholding a billion dollars if Ukraine didn’t fire the prosecutor invesgating his son and the oil company paying him millions for yet to be understood what he did.
Ehhh. Biden and the EU caused the Ukraine conflict???
I love conspiracy theories. Off down the rabbit hole we go, facts are irrelevant!
Any explanations re the Hungarian rule of law situation? I believe that’s at issue, here