Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

EU leaders finally approve coronavirus stimulus package after Hungary and Poland lift their veto

EU leaders finally approve coronavirus stimulus package after Hungary and Poland lift their veto

The latest European impasse over a much-needed stimulus package has finally been overcome, meaning cash-strapped countries will soon get access to a historic level of funding.

In the wake of the coronavirus pandemic, European nations agreed in July to raise 750 billion euros ($908 billion) from public markets and use that money to support the economic recovery across the 27-member region. This was a significant move and came on top of 1.074 trillion euros ($1.3 trillion) to be spent between 2021 and 2027.

However, the implementation of this agreement had been at risk after Hungary and Poland vetoed linking the disbursements of the funds with compliance of European values — also known as the rule of law mechanism. Both nations have been under investigation for years for allegedly influencing the appointment of top judges and discouraging press freedom — actions that go against European law.

After “long negotiations” over the last few weeks, the 27 EU countries agreed to go ahead with this link, but with a caveat: The two countries will be able to ask for an opinion from the European Court of Justice, the EU’s judicial body, so this institution can rule on whether making the disbursements conditional on the rule of law respects the European treaties.

However, it is likely that it will take more than a year for the ECJ to give its opinion, meaning that the two countries are left off the hook in the meantime. This is particularly relevant for Hungarian Prime Minister Viktor Orban, who faces elections in 2022.

The compromise sounds complex but it allows the EU to go ahead with making funds available quickly, while also keeping them conditional on this respect for European values — even if the latter is only likely to kick in at a later stage.


Speaking in Brussels on Thursday, Poland’s Prime Minister Mateusz Morawiecki said the compromise allowed the EU to “avoid arbitrary and political motivated decisions.”

Hungary’s Prime Minister Viktor Orban said the deal was a “victory of common sense.”

However, the deal has raised some doubts about its legality and effectiveness.

“You cannot save the Rule of Law by breaking the law,” Guy Verhofstad, a European lawmaker, said on Twitter.

Lawmakers at the European Parliament have to approve the compromise before it becomes official practice.

“Hungary/Poland lift their veto on EU budget, after being reassured that new Rule of Law mechanism won’t be applied to them until a judgment of ECJ will define ‘methodology’ to be applied. This is not only unprecedented, but also legally questionable,” Alberto Alemanno, professor of European law at H.E.C. Business School in Paris, said on Twitter on Thursday.

There are also doubts about when the link between the funds and the rule of law would actually kick in.

Different member states and lawmakers want sanctions to be applied retroactively from January 2021, which could hurt Hungary and Poland for their ongoing standoff with the European Commission over alleged breaches of European law.


AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Asian Energy Security Tested as Strait of Hormuz Disruption Threatens Oil Supplies
Iran Sets Three Conditions for Ending Regional War as Diplomatic Efforts Intensify
Iran warns of $200 oil as forces target merchant ships in Gulf
Japan to Release 45 Days of Oil Reserves Amid Iran Conflict
Global Energy Agency Announces Record Release of 400 Million Barrels to Stabilize Oil Markets Amid Hormuz Disruption
U.S. and Israel Intensify Strikes on Iran as Conflict Expands to Lebanon and Gulf States
When the State Replaces the Parent: How Gender Policy Is Redefining Custody and Coercion
Larry Summers, the former U.S. Treasury Secretary, is resigning from Harvard University as fallout continues over his ties to Jeffrey Epstein.
U.S. stocks ended higher on Wednesday, with the Dow gaining about six-tenths of a percent, the S&P 500 adding eight-tenths of a percent, and the tech-heavy Nasdaq climbing roughly one-and-a-quarter percent.
Nvidia posted better than expected results for the January quarter on Wednesday and forecast current quarter revenue above market estimates.
Ukrainian government intensifies pressure on Hungary and Slovakia with oil blockade
Britain’s Channel Crisis: Paying Billions While the Boats Keep Coming
Woman Receives Gift Card for Christmas – Discovers It Is ‘Worth’ 63,000,000,000,000,000 Pounds
United Nations Calls for Global Action Against Disinformation and Hate Speech Online
Tucker Carlson warns of an inevitable clash in Western societies over mass migration
OpenAI CEO Sam Altman praises the rapid progress of Chinese tech companies.
Poland's President Karol Nawrocki ENDS support for Ukrainian citizens:
Italy's PM Giorgia Meloni highlights record employment and economic growth
Chancellor Friedrich Merz Re-elected as CDU Leader, Opposes AfD Influence
Trump Directs Government to Release UFO and Alien Information
Trump Signs Global 10% Tariffs on Imports
UK Government Considers Law to Remove Prince Andrew from Royal Line of Succession
Two teens arrested in France for alleged terror plot.
US Supreme Court Voids Trump’s Emergency Tariff Plan, Reshaping Trade Power and Fiscal Risk
Greek Prime Minister Kyriakos Mitsotakis advocates for a ban on minors using social media.
Meanwhile in Time Square, NYC One of the most famous landmarks
Jensen Huang just told the story of how Elon Musk became NVIDIA’s very first customer for their powerful AI supercomputer
Former British Prince Andrew Arrested on Suspicion of Misconduct in Public Office
Former President Yoon Suk Yeol Sentenced to Life in Prison for Abuse of Authority
Unitree Robotics founder Wang Xingxing showcases future robot deployment during Spring Festival Gala.
German Chancellor Friedrich Merz calls for real name use on social media.
Italian Police Arrest Man After Alleged Attempt to Abduct Toddler at Bergamo Supermarket, Child Hospitalised With Fractured Femur
British Tourist Arrested at Hong Kong Airport After Meltdown and Vandalism
European Commission Plans Purchase Incentives Limited to Vehicles Manufactured Largely in the EU
French District of Pas-de-Calais Introduces Immediate License Suspension for Drivers Using Mobile Phones
Volkswagen Targets €60 Billion in Cost Reductions as Sales Decline and Global Pressures Intensify
Eighty-Year-Old Lottery Winner Sentenced to 16.5 Years for Drug Trafficking
Rubio Calls for Sweeping U.N. Reform, Saying It Has Failed to End Wars in Gaza and Ukraine
10,000 Condoms Distributed at Winter Olympics 2026 Athlete Village Depleted Within 72 Hours
Poland's President Advocates for Evaluating Independent Nuclear Weapons Development
Mayor of Serdobsk in Russia’s Penza Region Resigns After Housing Certificates Granted to Migrant Family Trigger Public Outcry
China’s EV Makers Face Mandatory Return to Physical Buttons and Door Handles in Driver-Distraction Safety Overhaul
UK Green Party Considering Proposal to Legalize Heroin for an Inclusive Society
OpenAI and DeepCent Superintelligence Race: Artificial General Intelligence and AI Agents as a National Security Arms Race
We will protect them from the digital Wild West.’ Another country will ban social media for under-16s
Heineken announces cut of 6,000 jobs due to declining beer demand
Apple iPhone Lockdown Mode blocks FBI data access in journalist device seizure
Belgium: Man Charged with Rape After Faking Payment to Sex Worker
KPMG Urges Auditor to Relay AI Cost Savings
Canada Opens First Consulate in Greenland Amid Rising Geopolitical Tensions
×