European Commission decides to delay €10bn allocation to Hungary - Reuters
The European Commission will not disburse €10 billion to Hungary for the time being. It is awaiting a final step from Budapest to unblock the country’s access to billions of euros frozen after Prime Minister Viktor Orban damaged the democratic system of checks and balances.
This is reported by Censor.NET with reference to Reuters.
The European Commission has said that Hungary's latest judicial reforms must first be published in the country's official journal in order to enter into force, which will then allow it to unfreeze up to €10 billion in development aid to Budapest from the bloc's general budget.
The bloc had hoped that unblocking the money would help influence Prime Minister Viktor Orban. But his senior aide demanded up to €30bn in a statement to Bloomberg.
The European Commission responded by raising rates further as the EU is embroiled in a deepening fight with Hungary over support for Ukraine, which Orban has threatened to veto at a summit of bloc leaders in Brussels on 14-15 December.
