Significant developments occurred in Brussels as European Commission President Ursula von der Leyen announced the release of European funds exceeding 16 billion euros for Hungary. This funding, however, is directly tied to the implementation of specific reforms by Peter Magyar’s new government.
EU gives Hungary €16 billion but threatens funding block without reforms
“We have reached a strong framework agreement to ensure that Hungary will effectively address issues concerning corruption and the rule of law,” the Commission President emphasized during a joint press conference with the Hungarian Prime Minister.
Peter Magyar had traveled to Brussels with the primary goal of negotiating the “unfreezing” of these specific funds. It should be noted that these resources had been blocked by the European Union during Viktor Orbán’s governance, due to serious concerns about rule of law violations and the lack of measures against endemic corruption.
Ursula von der Leyen did not hide her satisfaction with the political change in the country, speaking of a “strong wind of change” now blowing through Hungary, just weeks after Magyar’s election and the transition to the post-Orbán era.
“Your government is moving with speed and determination,” she noted characteristically, praising the reform efforts that have already begun and which, as she emphasized, work to the benefit of both Hungary and the entire European Union.
