casino malaysia
Hungary Blocks €50bn Of EU Funding For Ukraine

Welcome, guest: Join Money Land / Login / Trending / Recent

Join Moneyland VIP Package

26,039 members, 59,566 topics. May 05, 2024, 05:04 am

Hungary blocks €50bn of EU funding for Ukraine

Money Land Forum / News / Hungary blocks €50bn of EU funding for Ukraine (3 Posts | 66 Views)

(1) (Go Down)

Hungary blocks €50bn of EU funding for Ukraine by atoluwash(m) : 2:11 pm On Dec 15, 2023



Hungary has obstructed €50bn ($55bn; £43bn) in EU aid earmarked for Ukraine, mere hours after an accord was struck to initiate membership discussions.

Prime Minister Viktor Orban, expressing his stance after Thursday's discussions in Brussels, stated, "Summary of the nightshift: veto for the extra money to Ukraine."

Although EU leaders indicated that aid negotiations would recommence early next year, Hungary, which maintains close ties with Russia, has persistently opposed Ukraine's membership but did not use its veto against the decision to open talks.

Orban, leaving the negotiating room temporarily, asserted that he had spent eight hours attempting to dissuade his EU counterparts but could not sway them.

Emphasizing that Ukraine's path to EU membership was a protracted process, he suggested that the Hungarian parliament still held the authority to intervene.

Dutch Prime Minister Mark Rutte expressed confidence in reaching a deal early next year, stating that Viktor Orban and Hungary were the lone holdouts among the 26 countries.

The aid, comprising loans and grants, was intended to support essential services, wages, and pensions in Ukraine.

The country is also awaiting approval for a $61bn US defense aid package, but disagreements between Democrat and Republican lawmakers are causing delays.

With Ukraine's counter-offensive against Russia's occupying forces stalling in winter, concerns linger about Russia's potential military advantage.

Last week, President Zelensky's wife, Olena, warned in a BBC interview that Ukrainians were in "mortal danger" of being left to die if Western countries did not continue their financial support.

Mr Zelensky was delighted by the EU's announcement on the membership. "This is a victory for Ukraine. A victory for all of Europe. A victory that motivates, inspires, and strengthens," he wrote in a post on X.

Ukrainian politician Kira Rudik added that "we were elated" following the news about EU membership talks, saying it showed "Ukraine has a future right now".

But she said the feeling was now "bittersweet" because of the funding being blocked, which she called a "huge frustration". "It is impossible to have a European future without winning the war," she told the BBC.

Earlier this week a senior Ukrainian official told the BBC that for now, EU membership talks are more important than the €50bn because of the message it sends to both the Ukrainian people and Vladimir Putin.

And there's some confidence in Kyiv that Brussels will be able to find a way to channel fresh economic funds, by hook or by crook.

Ukraine and neighboring Moldova applied to join the EU after Russia launched its full-scale invasion of Ukraine in February 2022. They were both given candidate status last June, while Georgia was passed over at the time.

Moldovan President Maia Sandu said it was an honor to share the path to EU accession with Ukraine. "We wouldn't be here today without Ukraine's brave resistance against Russia's brutal invasion," she wrote.

Earlier this year, Moldova alleged that Russia was seeking to seize power in Chisinau.

White House National Security Adviser Jake Sullivan welcomed the EU's "historic" move to open accession talks with Ukraine and Moldova, calling it a "crucial step toward fulfilling their Euro-Atlantic aspirations".

German Chancellor Olaf Scholz praised his fellow leaders for showing a "strong sign of support", adding that it was clear that both Ukraine and Moldova belonged to "the European family". A diplomat at the summit said it was Mr Scholz's idea for Mr Orban to leave the room to enable the vote to go through.

The Hungarian leader later distanced himself from his colleagues with a video message on Facebook: "EU membership of Ukraine is a bad decision. Hungary does not want to participate in this bad decision."

Mr Orban has also argued that Ukraine should not get large funds from the EU as it is not part of the bloc.

Earlier on Thursday, President Putin mocked Ukraine and claimed Western support was running out: "Excuse my vulgarity, but everything is being brought in as a freebie. But those freebies could run out at some point."

Talks on joining the EU can take years, so Thursday's decision will not guarantee Ukraine membership.

EU candidate countries have to pass a series of reforms to adhere to standards ranging from the rule of law to the economy, although the EU's executive has already praised Ukraine for completing more than 90% of the steps taken so far on justice and tackling corruption.

There are also other countries, aside from Hungary, who are skeptical about expanding the EU beyond the current 27.

And talk of expansion often comes alongside airy proposals for root-and-branch reform of a bloc that's often unwieldy on far less fundamental issues.

But it's still a boost for morale and comes just in time as Ukraine heads into a second winter following Russia's full-scale invasion, and as the world's attention is drawn elsewhere by war in the Middle East.

(Quote) (Report) 1 Like

  


Re: Hungary blocks €50bn of EU funding for Ukraine by Chairman(m) : 1:02 am On Dec 16, 2023

Noted

(Quote) (Report)

Re: Hungary blocks €50bn of EU funding for Ukraine by Johnheavens3(m) : 12:00 pm On Dec 16, 2023

atoluwash:

Hungary has obstructed €50bn ($55bn; £43bn) in EU aid earmarked for Ukraine, mere hours after an accord was struck to initiate membership discussions.

Prime Minister Viktor Orban, expressing his stance after Thursday's discussions in Brussels, stated, "Summary of the nightshift: veto for the extra money to Ukraine."

Although EU leaders indicated that aid negotiations would recommence early next year, Hungary, which maintains close ties with Russia, has persistently opposed Ukraine's membership but did not use its veto against the decision to open talks.

Orban, leaving the negotiating room temporarily, asserted that he had spent eight hours attempting to dissuade his EU counterparts but could not sway them.

Emphasizing that Ukraine's path to EU membership was a protracted process, he suggested that the Hungarian parliament still held the authority to intervene.

Dutch Prime Minister Mark Rutte expressed confidence in reaching a deal early next year, stating that Viktor Orban and Hungary were the lone holdouts among the 26 countries.

The aid, comprising loans and grants, was intended to support essential services, wages, and pensions in Ukraine.

The country is also awaiting approval for a $61bn US defense aid package, but disagreements between Democrat and Republican lawmakers are causing delays.

With Ukraine's counter-offensive against Russia's occupying forces stalling in winter, concerns linger about Russia's potential military advantage.

Last week, President Zelensky's wife, Olena, warned in a BBC interview that Ukrainians were in "mortal danger" of being left to die if Western countries did not continue their financial support.

Mr Zelensky was delighted by the EU's announcement on the membership. "This is a victory for Ukraine. A victory for all of Europe. A victory that motivates, inspires, and strengthens," he wrote in a post on X.

Ukrainian politician Kira Rudik added that "we were elated" following the news about EU membership talks, saying it showed "Ukraine has a future right now".

But she said the feeling was now "bittersweet" because of the funding being blocked, which she called a "huge frustration". "It is impossible to have a European future without winning the war," she told the BBC.

Earlier this week a senior Ukrainian official told the BBC that for now, EU membership talks are more important than the €50bn because of the message it sends to both the Ukrainian people and Vladimir Putin.

And there's some confidence in Kyiv that Brussels will be able to find a way to channel fresh economic funds, by hook or by crook.

Ukraine and neighboring Moldova applied to join the EU after Russia launched its full-scale invasion of Ukraine in February 2022. They were both given candidate status last June, while Georgia was passed over at the time.

Moldovan President Maia Sandu said it was an honor to share the path to EU accession with Ukraine. "We wouldn't be here today without Ukraine's brave resistance against Russia's brutal invasion," she wrote.

Earlier this year, Moldova alleged that Russia was seeking to seize power in Chisinau.

White House National Security Adviser Jake Sullivan welcomed the EU's "historic" move to open accession talks with Ukraine and Moldova, calling it a "crucial step toward fulfilling their Euro-Atlantic aspirations".

German Chancellor Olaf Scholz praised his fellow leaders for showing a "strong sign of support", adding that it was clear that both Ukraine and Moldova belonged to "the European family". A diplomat at the summit said it was Mr Scholz's idea for Mr Orban to leave the room to enable the vote to go through.

The Hungarian leader later distanced himself from his colleagues with a video message on Facebook: "EU membership of Ukraine is a bad decision. Hungary does not want to participate in this bad decision."

Mr Orban has also argued that Ukraine should not get large funds from the EU as it is not part of the bloc.

Earlier on Thursday, President Putin mocked Ukraine and claimed Western support was running out: "Excuse my vulgarity, but everything is being brought in as a freebie. But those freebies could run out at some point."

Talks on joining the EU can take years, so Thursday's decision will not guarantee Ukraine membership.

EU candidate countries have to pass a series of reforms to adhere to standards ranging from the rule of law to the economy, although the EU's executive has already praised Ukraine for completing more than 90% of the steps taken so far on justice and tackling corruption.

There are also other countries, aside from Hungary, who are skeptical about expanding the EU beyond the current 27.

And talk of expansion often comes alongside airy proposals for root-and-branch reform of a bloc that's often unwieldy on far less fundamental issues.

But it's still a boost for morale and comes just in time as Ukraine heads into a second winter following Russia's full-scale invasion, and as the world's attention is drawn elsewhere by war in the Middle East.

Waow $61 b....it's massive

(Quote) (Report)

(1) (Reply)

2023: We’ll display voters’ register soon — INEC / Lagos tests train, projects 250,000 passengers daily / Pregnant woman killed as suspected bandits attempt to kidnap her husband in Born /

(Go Up)

Money Land Forum - Copyright © 2016 - 2024 | Aderonke Bamidele (Admin). All rights reserved. Follow Money Land Forum on Facebook and Twitter
Disclaimer: Every Money Land Forum member is solely responsible for anything that he/she posts or uploads on Money Land Forum.