DECRYPTION – Faced with a serious economic crisis, this country risked losing 70% of the funds from the European recovery plan.
Hungary has lost its standoff against Brussels. Not only has this Member State been forced to lift its vetoes on two crucial files for the European Union: the aid of 18 billion euros promised to Ukraine in 2023 and the global minimum tax of 15% on multinationals. But he must also resign himself to seeing Brussels freeze 6.3 billion euros from the cohesion funds of the 2021-2027 budget, under conditionality on the rule of law. Mean by that, this new mechanism which makes it possible to suspend EU funds when there are doubts about their proper use.
This agreement, torn off Monday evening by the ambassadors and which must still be formally adopted on Wednesday, was the price to be paid by Budapest to obtain the green light from the Twenty-Seven on the Hungarian recovery plan accompanied by 5.8 billion euros.
Read alsoHungary: Brussels freezes funds promised to Budapest
Without a green light before December 31, Hungary automatically lost 70% of this windfall at a time when the country badly needs funds and, above all, messages…
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