The European Union executive recommended suspending some 7.5 billion euros in funding for Hungary over corruption, the first such case in the bloc under a new sanction meant to better protect the rule of law
The EU introduced the new financial sanction two years ago precisely in response to what it says amounts to the undermining of democracy in Poland and Hungary, where Prime Minister Viktor Orban subdued courts, media, NGOs and academia, as well as restricting the rights of migrants, gays and women during more than a decade in power.
The 7.5 billion euros in question amounts to 5% of the country's estimated 2022 GDP. EU countries now have up to three months to decide on the proposal. "Hungary did not make commitments to befuddle the Commission," Navracsics told a news conference. "We have made commitments that we know can be implemented ... therefore, we will not be facing a loss of funds."Orban's government proposed creating a new anti-graft agency in recent weeks as Budapest came under pressure to secure money for the ailing economy and forint, the worst-performing currency in the EU's east.
Hungary has also pledged to implement several other anti-corruption safeguards, including tighter rules on conflicts of interest, extending the scope of financial statements and broadening the power of judges to pursue suspected corruption.
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In a first, Europe moves to cut Hungary funding over damaging democracyThe European Union executive recommended on Sunday suspending some 7.5 billion euros in funding for Hungary over corruption, the first such case in the 27-nation bloc under a new sanction meant to better protect the rule of law.
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In a first, EU seen moving to cut money for Hungary over damaging democracyThe European Union executive is expected to recommend on Sunday suspending billions of euros in funds for Hungary over corruption, the first such case in the bloc under a new 'cash for democracy' sanction meant to better protect the rule of law.
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