Financial Times: EU to punish Hungary financially if Orban blocks aid package for Ukraine
Kyiv • UNN
The EU is considering plans to financially punish Hungary if it continues to block a €50 billion aid package to Ukraine. Possible measures include weakening the Hungarian currency and undermining investor confidence to hurt its economy.
The EU will "sabotage" Hungary's economy if the country blocks aid to Ukraine at next week's summit. This was reported by the Financial Times, according to UNN.
Details
The newspaper calls the plan currently under development a "strong escalation" of the conflict over the EU's package for Ukraine.
According to the newspaper, the strategy involves explicitly targeting Hungary's economic weaknesses, weakening the country's currency and forcing a drop in investor confidence. The goal is to harm Hungary's labor market and growth if the authorities in Budapest do not lift their veto on aid to Kyiv.
Recall
At a December summit, Hungarian Prime Minister Viktor Orban vetoed a €50 billion loan to Ukraine for four years.
On Friday, five EU diplomats told Politico that it might be advisable to strip Hungary of its voting rights in the EU under the so-called Article 7. In this way, Hungary could be deprived of the right to make decisions in the Council of Ministers.
