**From The Telegraph’s Brussels Correspondent, Joe Barnes:**
The European Union has drawn up plans to cripple Hungary’s economy if it blocks a €50 billion aid package for Ukraine at a Brussels summit this week, according to a new report.
EU officials have proposed targeting Budapest’s economy by attempting to trigger a run on the country’s forint currency and collapse investor confidence to hit “jobs and growth” in a confidential document drawn up ahead of the leaders’ meeting.
Viktor Orbán, prime minister of Hungary, vetoed a plan to shore up Ukraine’s economy over the next four years at a summit in December last year. He has vowed to block it again at the emergency gathering on Thursday.
“In the case of no agreement in the February 1 [summit], other heads of state and government would publicly declare that in the light of the unconstructive behaviour of the Hungarian PM… they cannot imagine that” EU funds should be provided to Budapest, the document, cited by the Financial Times, claims.
“Financial markets and European and international companies might be less interested to invest in Hungary” if funding is blocked, the document states.
The punishment “could quickly trigger a further increase of the cost of funding of the public deficit and a drop in the currency”, it adds.
**‘Brussels is using blackmail’**
The plan was drawn up by an official in the European Council, which represents the bloc’s 27 member states, ahead of the summit.
It suggests Hungary is particularly vulnerable to economic threats because of its “very high public deficit”, “very high inflation”, weak currency and the EU’s highest level of debt repayments in proportion to GDP.
Balasz Orban, the Hungarian prime minister’s political director, said: “Brussels is using blackmail against Hungary like there’s no tomorrow, despite the fact we have proposed a compromise.
“Now, it’s crystal clear: this is blackmail and has nothing to do with the rule of law. And now they’re not even trying to hide it.”
I know that’s not how we do things, but it would have been much easier to just cripple Orban and a few of his key cronies. And I mean physically, not cripple their influence or something.
Nice
Do it already
All I hear are threats. Do it already God damn it or shut the fuck up. There are people getting killed because aid is blocked.
What economy? It’s been crippled for ages
And before the russian “EU DicTAtorSHIp” trolls and their european useful idiots comment:
Hungary’s government literally endangers all of the EU and it’s security with their antics, so fuck them. Consequences.
Dear EU,
10 years too late.
Sincerely
Hungarians
As they should. If you want to be in the club you got to play by the rules and not be an asshole.
I see this news popping up constantly for at least 5 days now, but Hungary already said it won’t veto like 2 weeks ago..? Am I missing something here, or it’s just a weird fetish on reddit?
They did that themselves.
God speed
I’d rather believe that EU will be deeply worried if Hungary blocks Ukraine aid
[deleted]
The things had to be fixed a years ago. It is already too late. Sanctions never work as expected and always result in further radicalization. Hungary may completely turn to the evil side.
All talk and no action.
The Telegraph writing about the EU…. take this with a truckload of salt.
Could we please just do it? Long enough for people to revolt, maybe?
So do it, don’t just say it. Do it
Tja
I will bet anyone 20 goulashes that once Ukraine wins and the war is over Orban is going to be in Kiev giving a press conference about Hungary’s commitment to the reconstruction of Ukraine and how they will not be able to do it without hungarian help.
Mid press conference he will be interrupted by the austrian chancelor that will then proceed to announce how Austria is commited to the reconstruction of Ukraine and all contracts should go to them.
Morals of the story: oportunists will be oportunistic don’t value morals so we should do it in their stead and offer Ukraine both Hungary and Austria as reparations for being late on the help.
And don’t worry the austrians and hungarians had an empire for centuries and they tell us how 20 nations lived in peace and harmony under them so guess they will have no problem adjusting to living in peace and harmony under the ukrainians so they get to experience the other side for a change.
eh, the Hungarian government is doing that already.
The only thing keeping us floating is foreign money coming in (EU, China etc)
I don’t think it’s a good idea to make the hungarian people pay for one dude’s retardation
They should not just plan it. They should do it.
I dont understand Hungarian long term plans here. Because they are turning every other EU country against them.
DO IT DO IT DO IT 👁👄👁
Economy? what economy?
Two questions
First: If the EU can’t stand it that a nation is able to veto something then why is it even a thing? Just abolish it or accept the veto because it’s in their right to do so. Just don’t fuck other european nations because the use the veto like it was intended, wtf?
Second: If the EU has a problem with some alligment issues of certain nations and the veto right, then why did they constantly enlarg? Who had thought that if more and more nations get in the EU that more diffrent sentiments could exist and block stuff, I’m perplexed. And veto works better with smaller numbers of nations not with the many which are in the EU currently which creates situations like this.
In my eyes it’s less the fault of Hungary and more of the system which shouldn’t be this way. We will see this happing more often in the future and the solution can’t be to beat them financially into submission all the time
EU rules are stupid. Poland and Hungary were 2 countries with EU aid blocked due to democracy issues. Then Russia attacked Ukraine. EU decides to send some money to Ukraine, but couldn’t because Hungary blocked them. To make Hungary accept aid for Ukraine, EU had to release blocked aid for Hungary.
So at the end of the day Poland who was first to help Ukrainians got their aid blocked and Hungary received most of the funds only because they disapproved help for Ukraine.
29 comments
**From The Telegraph’s Brussels Correspondent, Joe Barnes:**
The European Union has drawn up plans to cripple Hungary’s economy if it blocks a €50 billion aid package for Ukraine at a Brussels summit this week, according to a new report.
EU officials have proposed targeting Budapest’s economy by attempting to trigger a run on the country’s forint currency and collapse investor confidence to hit “jobs and growth” in a confidential document drawn up ahead of the leaders’ meeting.
Viktor Orbán, prime minister of Hungary, vetoed a plan to shore up Ukraine’s economy over the next four years at a summit in December last year. He has vowed to block it again at the emergency gathering on Thursday.
“In the case of no agreement in the February 1 [summit], other heads of state and government would publicly declare that in the light of the unconstructive behaviour of the Hungarian PM… they cannot imagine that” EU funds should be provided to Budapest, the document, cited by the Financial Times, claims.
“Financial markets and European and international companies might be less interested to invest in Hungary” if funding is blocked, the document states.
The punishment “could quickly trigger a further increase of the cost of funding of the public deficit and a drop in the currency”, it adds.
**‘Brussels is using blackmail’**
The plan was drawn up by an official in the European Council, which represents the bloc’s 27 member states, ahead of the summit.
It suggests Hungary is particularly vulnerable to economic threats because of its “very high public deficit”, “very high inflation”, weak currency and the EU’s highest level of debt repayments in proportion to GDP.
Balasz Orban, the Hungarian prime minister’s political director, said: “Brussels is using blackmail against Hungary like there’s no tomorrow, despite the fact we have proposed a compromise.
“Now, it’s crystal clear: this is blackmail and has nothing to do with the rule of law. And now they’re not even trying to hide it.”
**Read more ⤵️**
[https://www.telegraph.co.uk/world-news/2024/01/29/european-union-plans-hungary-economy-blocks-ukraine-aid/](https://www.telegraph.co.uk/world-news/2024/01/29/european-union-plans-hungary-economy-blocks-ukraine-aid/)
I know that’s not how we do things, but it would have been much easier to just cripple Orban and a few of his key cronies. And I mean physically, not cripple their influence or something.
Nice
Do it already
All I hear are threats. Do it already God damn it or shut the fuck up. There are people getting killed because aid is blocked.
What economy? It’s been crippled for ages
And before the russian “EU DicTAtorSHIp” trolls and their european useful idiots comment:
Hungary’s government literally endangers all of the EU and it’s security with their antics, so fuck them. Consequences.
Dear EU,
10 years too late.
Sincerely
Hungarians
As they should. If you want to be in the club you got to play by the rules and not be an asshole.
I see this news popping up constantly for at least 5 days now, but Hungary already said it won’t veto like 2 weeks ago..? Am I missing something here, or it’s just a weird fetish on reddit?
They did that themselves.
God speed
I’d rather believe that EU will be deeply worried if Hungary blocks Ukraine aid
[deleted]
The things had to be fixed a years ago. It is already too late. Sanctions never work as expected and always result in further radicalization. Hungary may completely turn to the evil side.
All talk and no action.
The Telegraph writing about the EU…. take this with a truckload of salt.
Could we please just do it? Long enough for people to revolt, maybe?
So do it, don’t just say it. Do it
Tja
I will bet anyone 20 goulashes that once Ukraine wins and the war is over Orban is going to be in Kiev giving a press conference about Hungary’s commitment to the reconstruction of Ukraine and how they will not be able to do it without hungarian help.
Mid press conference he will be interrupted by the austrian chancelor that will then proceed to announce how Austria is commited to the reconstruction of Ukraine and all contracts should go to them.
Morals of the story: oportunists will be oportunistic don’t value morals so we should do it in their stead and offer Ukraine both Hungary and Austria as reparations for being late on the help.
And don’t worry the austrians and hungarians had an empire for centuries and they tell us how 20 nations lived in peace and harmony under them so guess they will have no problem adjusting to living in peace and harmony under the ukrainians so they get to experience the other side for a change.
eh, the Hungarian government is doing that already.
The only thing keeping us floating is foreign money coming in (EU, China etc)
I don’t think it’s a good idea to make the hungarian people pay for one dude’s retardation
They should not just plan it. They should do it.
I dont understand Hungarian long term plans here. Because they are turning every other EU country against them.
DO IT DO IT DO IT 👁👄👁
Economy? what economy?
Two questions
First: If the EU can’t stand it that a nation is able to veto something then why is it even a thing? Just abolish it or accept the veto because it’s in their right to do so. Just don’t fuck other european nations because the use the veto like it was intended, wtf?
Second: If the EU has a problem with some alligment issues of certain nations and the veto right, then why did they constantly enlarg? Who had thought that if more and more nations get in the EU that more diffrent sentiments could exist and block stuff, I’m perplexed. And veto works better with smaller numbers of nations not with the many which are in the EU currently which creates situations like this.
In my eyes it’s less the fault of Hungary and more of the system which shouldn’t be this way. We will see this happing more often in the future and the solution can’t be to beat them financially into submission all the time
EU rules are stupid. Poland and Hungary were 2 countries with EU aid blocked due to democracy issues. Then Russia attacked Ukraine. EU decides to send some money to Ukraine, but couldn’t because Hungary blocked them. To make Hungary accept aid for Ukraine, EU had to release blocked aid for Hungary.
So at the end of the day Poland who was first to help Ukrainians got their aid blocked and Hungary received most of the funds only because they disapproved help for Ukraine.
This is not how you run an organization