EPA
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The European Union has reached an agreement in principle on an 18 billion euro financial aid package for Ukraine. An agreement was also reached on a minimum tax for large companies in the EU. Hungary previously opposed these plans, but the conflict between the EU and Hungarian Prime Minister Orbán appears to have been resolved.
The 27 envoys from EU countries reached the agreement late yesterday evening. It is currently still on reservation. There is still to be signed, but no major obstacles are foreseen, reports the AP news agency.
Budapest is giving up its opposition to the plans in exchange for a reduction in the fine on its EU subsidies. The country risked losing 7.5 billion euros because, according to the European Commission, the country does not have the rule of law in order. The countries have now agreed that only 6.3 billion of the 7.5 billion euros should be withheld by Hungary, says the Czech president.
Approval was also received for another €5.8 billion from the European corona recovery fund, which Hungary has been waiting for for 1.5 years. The conditions of the commission by which Budapest is to restore the rule of law remain in effect.
To interfere
Hungary has for months used its veto power on a number of important dossiers, such as the introduction of the minimum 15% profit tax rate for large companies in the EU. This measure should put an end to tax avoidance. In September, the Netherlands, France, Germany, Spain and Italy have already threatened to take measures without Hungary if necessary.
Orbán previously denied that he would interfere with his vetoes. Yet no one in Brussels seemed convinced of this.
