At the hearing held in the framework of a procedure launched against Hungary over concerns regarding the rule of law that could deprive the country of its EU voting rights, Reynders noted that the EC sent Hungary written notification a week earlier launching a so-called conditionality procedure against the country that could result in the suspension of its EU funding.
"The commission has identified a number of rule of law issues, including corruption-related [ones] that constitute…grounds for the launch of the procedure and the general regime of conditionality," Reynders said.
"Indeed, these issues affect or seriously risk affecting the sound financial management of the European Union budget or the protection of the financial interests of the union in a sufficiently direct way," he added.
"The identified issues, together with the long-standing commission recommendations and requests to address them, combined with the lack of measures to address the identified issues…are indicative of a serious risk for the sound financial management of the EU budget and for the protection of the EU's financial interests," he noted.
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