George Soros tells EU, stand up to Hungary and Poland on recovery fund and follow “the rule-of-law”

Related

Infamous billionaire financier George Soros said the European Union must stand up to Hungary and Poland and cannot afford to compromise on the rule-of-law provisions it applies to the funds it allocates to member states.

Hungary and Poland on Monday blocked the adoption of the 2021-2027 budget and recovery fund by European Union governments because the budget law included a clause which makes access to money conditional on respecting the rule of law.

This delay the launch of the 1.8 trillion euro package that combines the EU’s long-term budget and the bloc’s economic recovery plan.

In a Project Syndicate article published on Thursday, Soros said Hungary and Poland’s veto of the EU budget and coronavirus recovery plan could be circumvented.

If there is no agreement on a new EU budget, the old budget could be extended on a yearly basis. If this is the case, Poland and Hungary would risk not receiving any payments under new rule of law conditions, the financier and philanthropist argued.

“The EU can’t afford to compromise on the rule-of-law provisions,” Soros wrote. He added that in the case of Hungary, EU funds should be directed to local authorities.

(Reporting by Dhara Ranasinghe; editing by Sujata Rao)

- Advertisement -
SourceReuters

Add your comment(s)

 

Latest

North Korean hackers target vaccine makers in the hunt for COVID research

A group of hackers, suspected to be North Korean, have recently tried to break into at least nine health organizations, including pharmaceutical giant Johnson...

Israeli cow-herders are using drones to keep their herd together

The buzz of tiny rotors has replaced dog barks and bullwhips on this Israeli ranch, where drones are being used to herd and observe...

Employers could mandate a COVID-19 vaccine – but will they?

Private U.S. companies have the right under the law to require employees to get vaccinated against COVID-19, but are unlikely to do so because...

Inflation expectations at highest since 2019

Market expectations of inflation on Wednesday were headed higher on renewed hopes that Congress could pass a COVID-19 stimulus package, after yesterday reaching 18-month...

Prosecutors are not investigating gov officials in alleged scheme to pay for pardons

No U.S. government official is the "subject or target" of investigation in an ongoing probe by the U.S. Justice Department into whether money was...

Trending

Click to Hide Advanced Floating Content