Hungary Seeks €10 Billion in Frozen EU Funds
Hungary's new leader Péter Magyar wants to unlock EU funds. He is seeking €10 billion ahead of an August 31 deadline.
Magyar once worked under former leader Viktor Orbán before turning against him. He now wants the funds in return for reforms.
Magyar met with EU chief Ursula von der Leyen to discuss the deal. They also spoke directly by phone.
The €10 billion is part of a larger blocked total of about €17 billion. Hungary must meet 27 reform targets to unlock the money.
The August 31 deadline cannot be extended. Magyar's Tisza party won a large majority in the April 12 election.
That majority lets him change Hungary's constitution quickly to meet EU demands. Leaders in Brussels hope Magyar will start a new chapter in EU-Hungary ties. But they say they need real action and not just words.
Key Terms 4
- EU funds Money the European Union gives to member countries for development and recovery
- reform targets Changes a country must make to meet EU rules on law and democracy
- Ursula von der Leyen The head of the European Commission which manages EU rules and money
- two-thirds majority Enough seats in parliament to change laws including the constitution