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Hungary may lose the right to vote in the EU because of Ukraine


December, 18 2023
watermark Economic news

The EU authorities are considering the possibility of depriving Hungary of the right to vote in order to freely conclude an agreement on the allocation of military assistance to Ukraine. This decision can be made within the framework of the so-called punishment procedure under article 7 for violations of the rule of law. 


Previously, Poland could have blocked such EU measures, but with the change of government in Poland, the views of the authorities on this issue have also changed. Thus, Hungary has lost its guaranteed ally. 


Although some EU countries reacted to this initiative with caution, they still intend to show Hungary the «true price» of isolation within the European Union. And despite possible opposition from Hungary, the EU has expressed its intention to provide Ukraine with financial assistance.


Earlier, Politico reported that German Chancellor Olaf Scholz, during the EU vote on Ukraine's membership, invited his Hungarian counterpart Viktor Orban to leave the hall, take coffee and «drink it outside the room.» As it’s known, Orban is blocking the adoption of a new package of assistance to Kiev from the EU budget, and also opposes the country's accession to the bloc.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.