According to the Swiss journal, the Hungarian Prime Minister wants to take revenge with his actions for being publicly embarrassed by the French President in the debate over the sixth package of EU sanctions against Russia.
The opinion article of Neue Zürcher Zeitung reports that Viktor Orbán’s government is blocking the introduction of a minimum corporate tax, opposing sanctions against Russia and blocking criticism of China. According to the Swiss newspaper, the Hungarian Prime Minister is going too far with his actions and his closeness to Putin is incomprehensible which creates a dispair in the European Union.
Emmanuel Macron and Viktor Orbán have never been particularly good friends. With Orbán’s rejection to implement the tax reform that France had pushed for at the EU level, relations between the two are likely to be more distant.
Read also: Orbán cabinet called on the EU to stop penalising member states
According to the opinion article in the Swiss journal, the Hungarian Prime Minister wanted revenge for being publicly embarrassed by the French President in the debate over the sixth package of EU sanctions against Russia.
Last Friday, at the meeting of the EU’s 27 finance ministers in Luxembourg, Orbán’s representative announced that they would reject the introduction of a global minimum tax on corporate profits – despite the fact that agreement on the issue had long seemed certain. After months of negotiations, Poland has also given up its opposition to a 15% minimum tax rate. The well-informed Politico news portal quotes several diplomats saying that the debate with Orbán revived the old debate about the principle of unanimity in the European Union. It is unacceptable for one country to hold the whole EU “hostage”, Manfred Weber, leader of the European People’s Party, recently said. He also pointed out that it was previously unthinkable for Poland to vote against Hungary, and vice versa, as both states defended each other – reported by Mandiner.
The Swiss journal also considers Orbán’s closeness to Putin incomprehensible. As it reports, this has resulted in creating a widening distance between his allies like the Visegrád Group and other former friends.
Since the Fukushima accident in March, fears about nuclear power plants on the continent have intensified across Europe. Most people fear that Europe could face a disaster similar to the one on the island of Japan. In Germany, the five oldest nuclear reactors have been temporarily shut down, and German Chancellor Angela Merkel has said in several forums that she was prepared to abandon nuclear power in the longer term.
Besides Germany, Switzerland has also announced that it would phase out nuclear power plants from its energy grid by 2034. The Swiss government submitted a proposal to the parliament on Wednesday, which will be debated by mid-June. The exact details were not disclosed, but it is expected that the timetable will be set according to the lifetime of the reactors. The oldest plant will be shut down in 2029, while the youngest will be shut down in 2034 – reported by Világgazdaság.
Paragraph 1 and 2 – of this article give a “respected” overview, of the picture / image that Victor Orban, has created upon himself.
This image – agenda, is known, to those in the right places, in the European Union, Great Britain, United States of America and Globally.
They remain patient just biding time, letting Victor Orban – run his agenda, continue to severly damage, the brand name Hungary.
There will be an “Explosion” and greater deeper factual revalations – in the agenda / dogma – tactics, that continue to be practiced undertaken – by the present Prime Minister of Hungary – Victor Orban.
Hungary – it’s Economic position, is in tatters.
The principal or main componentry used to access the state position of a countrys Economy, presently, short and medium term and into the Future, over the coming 2 to 4 years, these Economic and Financial indicators – all highlight that Hungary, is in a STRONG Downward Trend, that sees massive Economic & Finacial challenges – in the immediate and Future 2 – 4 years.
This “grim” picture, the effects of an Economy – being “battered” – without means or policies to Stabilize it, makes for a grim picture for the Hungarian citizens.
It does support, the running and operation of the affairs by this present Fidesz Party, the Government led by its Leader and the present Prime Minister of Hungary – Victor Orban, that grows, in there Ideas & Philosophy, that are built on and around being Dictatorial, that Hungary, are going to be the devastated lossers, when ALL is revealed of the present Governments relationships and agenda.
Who are the Friends of Hungary – excluding Russia & China ?
Forgotten over time by this Fidesz led Party and Government(s) led by Victor Orban – is that Democracy – is Dialogue.
There is no place for the blantant arrogance of Dictatorship in Democracy.
Hungary – wounds continue to be re-opened, new wounds opened, exampled by the Ryanair cataclysmic situation, that possible will and RIGHTFULLY end up in the Courts Of Justice of the European Union, that Hungary would be the loser, costing Hungary – Massively – fiancially.
Hungary – we are in TROUBLE and the BLAME quite simple is through arrogance of this present Government, its repedative behaviour to IGNOR understand – that Democracy is Dialogue and not a Dictatorship.
The future of Hungary, its present Government, from the Prime Minister – Victor Orban – through its “Rank and File” may like to study take in – the POWERFUL message of this latin quote ”
“Veritas Omnia Vincit”.
The english translation – Truth Conquers All.
For years we have heard all this talk about EU being a superpower. We listened to all those politicians who urged us Europeans to set aside historic differences and forge a European policy on everything. The EU would take its place at the top table etc etc etc!
But what has happened since February? The EU has been weak and sits there obeying American orders, Germany gives up its Nord Stream pipeline like a docile dog sitting there trying to please its master!
EU promised Ukraine help then when they saw Russian power they ran away! Now the promise Ukraine membership of this pathetic EU. Yet at the same time many countries will not vote to let them in.
The European economy is crashing, inflation is out of control, Italians are frightened of a gang of Moroccan youths! Sweden remains the rape Centre of the world.
And all the EU can do to get angry at Orban! For what? For calling out the stupid self harming policies.
Readers, whether you agree with my dislike of EU or not surely you see it disintegrating before your eyes?
Oh My, the Swiss are having a fit. If Hungary raises corporate tax, it means that the prices will rise. This affects the people. Why would any good leader punish its citizens by placing extra tax burden on its population? This is the difference between a pro national leader and a pro EU leader.
By getting all countries to agree to a minimum corporate tax rate, the Biden administration is seeking to eradicate certain tax havens without hurting the competitiveness of “American firms”. Yellen has repeatedly said that a global tax, which would apply to companies’ overseas profits, would eliminate what she’s described as a “global race to the bottom” in terms of corporate taxes.
The Biden administration once more conned the EU into a disadvantaged pact. The EU is naive enough to fall for it.
@mariavontheresa – US tax law is different from most systems, which tend to be territorial. Firms based in the United States pay the 21 percent flat, corporate tax rate on profits GLOBALLY, i.e. earned in the United States AS WELL AS overseas.
Profits that US firms earn in the US are taxed in the year in which they were earned.
Overseas income is treated differently. First, the income is taxed by the foreign country in which it earned its profits (Hungary 9% corporate and 2% Local Business Tax). Those profits are taxed AGAIN by the US government when those profits are repatriated to the United States, ideally with an offset of the tax already paid in the foreign country (the potential “double taxation” issue). US corporations can defer this additional tax indefinitely as long as that income is reinvested in ongoing overseas business activity.
So, actually – US firms generally tend to be at a disadvantage, tax wise (and the tax rate used to be MUCH higher). This is not a US Imperialist plot.