EU Pauses Hungary Funds Debate as Budapest Halts Ukraine Aid (3)
By Zoltan Simon and Jorge Valero
Dec. 6, 2022, 4:25 PM
The European Union’s standoff with Hungary deepened as a dispute over the fate of $14 billion of funding for Budapest scuppered attempts to push through crucial aid for Ukraine and a global minimum corporate tax.
Hungarian Finance Minister Mihaly Varga said at a meeting with EU counterparts in Brussels on Tuesday that his country would veto the €18 billion ($18.9 billion) support package for Kyiv.
Ministers dropped the adoption of Hungary’s €5.8 billion Covid-recovery plan from their agenda in response. Budapest stands to lose €4.1 billion of that pot if it isn’t approved by the end of the year.