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- INTEREST37.00%-1.00
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- October 12, 202619°
- BIST10012,151-0.94%
- USD49.220.00%
- EUR55.21+0.28%
- GOLD4,192.60-0.56%
- INTEREST37.00%-1.00
- BITCOIN82,900-0.92%
- October 12, 202619°
Hungarian Prime Minister Magyar's Brussels Visit for EU Funds Faces Reality Check
Hungarian Prime Minister Péter Magyar is holding critical talks with the European Commission to release frozen EU funds. The Commission demands that reforms be completed, not just promised...
Hungarian Prime Minister Péter Magyar is conducting important talks in Brussels to release billions of euros in funds frozen by the European Union. In his meeting with European Commission President Ursula von der Leyen, Magyar will try to make progress on unblocking funds that were blocked due to rule of law violations during former leader Viktor Orbán's tenure. However, EU officials state that the process is not as easy as Magyar presents it to the public. The Commission requires that reforms are not only promised but fully implemented. Especially reforms in the judiciary, anti-corruption, and public procurement sectors need to be carried out. While Hungary is expected to quickly implement these reforms, the risk of a constitutional crisis and the appointment of Orbán loyalists to key positions complicate the process. The European Court of Justice is expected to soon review the Commission's 2023 decision to release funds to Hungary. This decision could legally affect the Commission's approach. The Hungarian government must submit its official request to receive EU funds by August 31. Although EU officials welcome Hungary's new approach, some capitals expect to see concrete changes. It is emphasized that Hungary should learn from Poland's example in this process. After a government change in Poland, funds were released but no progress was made in reforms. As Magyar tries to open a new chapter in relations with the EU, the outcome of the Brussels talks is being closely watched.
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