EU REGULATORY ROUND UP – HUNGARY THREATENED WITH LOSS OF EUR7.5 BILLION EU FUNDS OVER GRAFT CLAIMS
September 30th, 2022
The European Commission has bitten the bullet and for the first time has imposed a major financial penalty on a European Union (EU) member state that it considers so corrupt, its handling of EU funds cannot be trusted. That country is Hungary, run by the populist right-wing government of Prime Minister Viktor Orbán, where the EU executive on September 19 proposed suspending EUR7.5 billion in EU funding. That is 65% of the EU development aid (‘cohesion funds’) that Hungary has been assigned until 2027. These are currently being paid via the EU Environmental ...
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