By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > News > Viktor Orbán vows to stand firm against EU funding for Ukraine
News

Viktor Orbán vows to stand firm against EU funding for Ukraine

News Room
Last updated: 2023/12/21 at 10:21 AM
By News Room
Share
4 Min Read
SHARE

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Viktor Orbán has vowed to stand firm on blocking the EU’s financial package for Ukraine, saying he will not be swayed by offers of money or threats from fellow leaders at an emergency summit next year.

The firebrand Hungarian leader vetoed a four-year, €50bn aid package to Kyiv last week, leaving fellow EU leaders racing to find alternatives, which may require a cumbersome procedure to send money without Hungary.

Speaking at his only international press conference of the year, Orbán said he would insist that the EU meets four conditions if leaders want to press ahead with Ukraine funding at a planned summit early next year.

Orbán demanded the funding package be modest in size, outside the common EU budget, stretching over one year rather than four, and designed to exempt Hungary from any new joint EU borrowing.

“To commit in advance to giving Ukraine €50bn for [four] years from the EU budget, which has no money to fund this, so forcing new borrowing, that is a bad decision,” Orbán said. “We should make a good one instead.”

The EU is trying to develop ways for 26 of its member states to support Ukraine on a bilateral basis if Hungary is unwilling to participate.

Orbán alluded that would be the only way forward at an emergency summit due on February 1, adding he did not fear EU leaders retaliating against him by threatening to suspend Hungary’s voting rights.

“The EU treaty is clear that such a procedure can only be launched in case of a sustained breach of the rule of law,” he said. “But the European Commission has just said . . . our justice system is in order. I am not concerned.”

The commission last week unblocked about €10bn of funds, part of more than €30bn that had been frozen because of longstanding rule-of-law concerns. But it has kept more than €20bn held back, and Orbán said that money was still “due to Hungary”.

Even so, Orbán said he would not relent in his opposition to the Ukraine funding proposal, even if the rest of the money was released. “This is not about the money, but about the four conditions I have outlined,” he said.

He also claimed he had only agreed to allow the EU to start accession talks with Ukraine because fellow heads of state reminded him at the summit that Hungary had dozens of future opportunities to block Ukraine’s path to membership.

“What we are preparing to do now is a mistake. I spent eight hours in vain trying to convince the other leaders about this,” Orbán said. “They are against Hungary now but they will eventually come around.”

Orbán defended a decision earlier this year to hold direct talks with Vladimir Putin, saying it was “the right thing to do”, and also defended describing the invasion of Ukraine as a “special military operation”.

“It is a military operation, as in there is no declaration of war between the two countries,” he said. “We should all be glad there is no war, because war means a general draft, which I don’t wish upon anyone.”

Read the full article here

News Room December 21, 2023 December 21, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Fraudsters use AI to fake artwork authenticity and ownership

Stay informed with free updatesSimply sign up to the Artificial intelligence myFT…

JPMorgan questioned Tricolor’s accounting a year before its collapse

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Netflix misses Q3 earnings estimates, meme stock trade returns as Beyond Meat rallies 1,300%

Watch full video on YouTube

How subsea cables power the global internet

Watch full video on YouTube

Google and Anthropic reportedly in cloud deal talks, Netflix falls after earnings miss

Watch full video on YouTube

- Advertisement -
Ad imageAd image

You Might Also Like

News

Fraudsters use AI to fake artwork authenticity and ownership

By News Room
News

JPMorgan questioned Tricolor’s accounting a year before its collapse

By News Room
News

Delaware high court reinstates Elon Musk’s $56bn Tesla pay package

By News Room
News

How Ford’s bet on an electric ‘truck of the future’ led to a $19.5bn writedown

By News Room
News

Which genius from history would have been the best investor?

By News Room
News

How Friedrich Merz’s EU summit plan on frozen Russian assets backfired

By News Room
News

Cannabis Investing In The Trump Era

By News Room
News

The argument Iranians have in private

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?