Socialist MEP: ‘Orbán government responsible for Hungary losing all EU funds’

“It is more important for the government to cement its power than reaching an agreement with the EU to release the funds,” Istvan Ujhelyi told a press conference.

Ujhelyi said that in the worst case scenario Brussels “may freeze all funding for Hungary which amounts to 6,000 billion forints (EUR 14.85bn) in the common recovery fund and some 13,000 billion earmarked during the next EU budgetary period”.

As a result, Hungary would have to cancel development projects, Ujhely said, adding that the national currency and international confidence in the country could further weaken. Inflation could also rise, which the government will address through “taking out expensive loans”, he said.

Ujhelyi demanded that all correspondence between EU institutions and the Hungarian government regarding the rule of law procedure against the country should be made public. It would show what criticism and requirements Brussels had put forward and what response the government had given to them, the MEP said.