ADVERTISEMENT

Orbán says Hungary will veto EU budget, recovery fund

EU

Alexandros Michailidis / Shutterstock.com

Prime Minister Viktor Orbán has informed the German presidency of the Council of the European Union, European Commission President Ursula von der Leyen and European Council President Charles Michel that the Hungarian government will veto legislation related to the EUʼs 2021-2027 budget and the recovery fund, the PMʼs press chief told MTI on Monday.

Viktor Orbán (Photo by Alexandros Michailidis / Shutterstock.com)

Orbán wrote in letters that Hungary would veto all elements of the legal package for the budget and the Next Generation EU recovery and resilience facility based on the principle that "there is agreement on nothing as long as there is not agreement on everything".

Press chief Bertalan Havasi noted that the PM had earlier warned that linking payouts from the seven-year budget and the recovery fund to conditions that are not precisely defined could lead to arbitrary, politically-based sanctions using a double standard, putting confidence among EU member states as well as Hungaryʼs interests at risk.

Orbán argued that common values such as the rule of law, are fundamental for Hungary, and their application and enforcement must be a matter for Hungarians to decide, Hungarians who are just as fit for the task as any other people in Europe.

UPDATE: Hungary and Poland veto 2021-2027 EU budget

According to a report by news agency Reuters, Hungary and Poland blocked the adoption of the 2021-2027 budget and recovery fund. While the proposal linking EU money and the respect for the rule of law passed as it only required a qualified majority, Hungary and Poland managed to block the approval of the EUR 1.1 trillion budget and EUR 750 billion recovery package as the vote required unanimous support from all EU members.

ADVERTISEMENT

Rate-setters augur slower decline in CPI in 2022 Analysis

Rate-setters augur slower decline in CPI in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

Magyar Bankholding chairman to serve as CEO as well Appointments

Magyar Bankholding chairman to serve as CEO as well

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.