EU Proposes €7.5B Cut To Hungary Over Corruption

Reuters reports:

The European Union executive recommended on Sunday suspending some 7.5 billion euros in funding for Hungary over corruption, the first such case in the 27-nation bloc under a new sanction meant to better protect the rule of law.

The EU introduced the new financial sanction two years ago precisely in response to what it says amounts to the undermining of democracy in Poland and Hungary, where Prime Minister Viktor Orban subdued courts, media, NGOs and academia, as well as restricting the rights of migrants, gays and women during more than a decade in power.

The 7.5 billion euros in question amounts to 5% of the country’s estimated 2022 GDP. EU countries now have up to three months to decide on the proposal.

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In a first, EU moves to cut money for Hungary over damaging democracy https://t.co/olZxx2Qfak pic.twitter.com/VUq3N88ht3

— Reuters (@Reuters) September 18, 2022