Categories: Hungary

Hungary’s Recovery Funds Hang in the Balance

Reading Time: < 1 minute

Hungary’s government faced a barrage of criticism from officials in Strasbourg this week over a law that bans content “promoting homosexuality” to minors, but there are also concerns over a lack of safeguards to prevent corruption.

Some are even suggesting that Hungary’s portion of the EU stimulus package should be held back until Budapest shows respect for EU values – and approval of the country’s recovery plan is likely to happen only after 12 July. For Hungary, that means EUR 7.2 billion of EU grants hangs in the balance.

Referring to what’s known as Hungary’s “anti-LGBTQ law,” head of the EU executive, Ursula von der Leyen, stated: “It is a disgrace this legislation… It is something that flies in the face of the values of the European Union.” She said if Hungary did not change course, the Commission would use its power.

Sources: Bloomberg, France24, Bloomberg Newswire

CET Editor

Recent Posts

US soldiers die during Lithuania training exercise

A total of three US soldiers were found dead while a fourth remains missing after…

1 day ago

Trump-Putin detente could revive Nord Stream 2

The US and Russia are discussing the potential reopening of the Nord Stream 2 gas…

1 day ago

Dodik dodges arrest warrant, surfaces in Moscow

Republika Srpska (RS) President Milorad Dodik announced that he had arrived in Moscow on Monday…

1 day ago

CEE startups outpace Western Europe rivals

Startups in Central and Eastern Europe (CEE) are growing faster than in Western Europe and…

1 day ago

Gender pay gaps remain in CEE, despite EU efforts

Romania and Poland have gender pay disparities among the lowest in the EU, according to…

1 week ago

Europe’s trilemma: rearmament, green transition, competitiveness

European leaders met in Brussels on 20 March to confront a mounting policy dilemma: how…

1 week ago