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Pressure grows on Hungary to lift Ukraine funding objections (www.euractiv.com)

submitted 2 years ago by 0x815@feddit.de to c/europe@feddit.de

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The original proposal of the European Commission for the EU’s financial aid package aimed to give Ukraine a predictable cash flow over four years, including €17 billion in grants and €33 billion in loans.

Hungary signalled it could approve the funding as long as the €50 billion package would be split into four annual envelopes worth €12.5 billion each, according to several EU diplomats with knowledge of the negotiations.

Several EU member states are against deciding the issue on a year-to-year basis as they believe it would deny Ukraine long-term planning ability and would effectively give Budapest the option of an ‘annual veto’.

The EU diplomats said that Budapest has also made an unrelated demand about the bloc’s COVID-19 recovery funds.

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[–] Hyperreality@kbin.social 17 points 2 years ago* (last edited 2 years ago) (1 children)

He wants to split the 50 billion in 4 installments, so they can cause trouble once a year.

All this for the equivalent of €10.6 per European in grants per year for four years, money we will make back ten fold in savings by avoiding the need for increased defense spending if Ukraine loses.

Tiresome.

The EU needs to be reformed ASAP. We need a European military and proper Europe wide defence industry cooperation ASAP.

[–] awwwyissss@lemm.ee 8 points 2 years ago

Orban is getting something from Putin. Really sad to see Hungary swirling the toilet bowl with him in charge.