Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Hungary, Poland double down to try to eject rule-of-law condition from EU budget

Published 26/11/2020, 18:19
Updated 26/11/2020, 18:21
© Reuters. Hungarian PM Orban and Polish PM Morawiecki meet in Budapest

© Reuters. Hungarian PM Orban and Polish PM Morawiecki meet in Budapest

By Marton Dunai and Alan Charlish

BUDAPEST (Reuters) - Hungary and Poland said on Thursday the EU could not attach rule-of-law conditions to funds unless the bloc changed its founding treaty, digging in their heels after vetoing the EU budget and a coronavirus recovery fund earlier this month.

The European Union is investigating the nationalist governments of the two countries for undermining the independence of their judiciaries and media, and had sought to attach conditions to the disbursement of EU cash.

Poland and Hungary responded by blocking 1.8 trillion euros worth of EU funds, including hundreds of billions due to be disbursed soon to help pull the bloc out of a double-dip recession caused by a second wave of COVID-19.

Hungarian Prime Minister Viktor Orban said those who would withhold the emergency funding were being "irresponsible, as at a time of crisis rapid decisions are needed to aid the economy."

"This debate cannot be solved with money," he said standing alongside Poland's premier Mateusz Morawiecki in Budapest.

Morawiecki stood by the veto decision.

"The use of veto today is the base scenario that we discussed in order to actually change the bad dynamics that have recently been imposed," Morawiecki said.

The premiers issued a joint statement which emphasised their shared position.

A senior EU diplomat said EU member states and European lawmakers had no appetite to re-negotiate the condition linking money to respect for democratic principles.

"With their statement, Poland and Hungary are moving deeper and deeper into isolation," the diplomat said. "It is clear that there is absolutely no support for reopening the conditionality mechanism in the European Parliament or in the Council."

© Reuters. Hungarian PM Orban and Polish PM Morawiecki meet in Budapest

Poland and Hungary would receive some of the highest amounts per capita from the EU. Both badly need the funds to help their economies overcome the effects of the COVID-19 pandemic.

Latest comments

The only countries where freedom and democracy exist in the eu is the UK,Hungary and Poland.
Maybe the UK should use its tax payers money to bail Hungary and Poland then you may understand instead the EU approach
Why do you think the UK wants out . Stay firm Poland and Hungary. I am sure there are other countries who would support you in the bloc.
I think Poland and Hungary should leave the EU. The fundamental beliefs are different, so a forced marriage is unhealthy. The separation benefits both, EU and Poland/Hungary.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.