FT: EU Sets Conditions for Hungary to Access €35 Billion
The European Union has drawn up a list of conditions for Peter Magyar, leader of the Tisa party, the fulfillment of which could lead to the release of approximately €35 billion.
This was reported by the Financial Times.
It is noted that among the requirements is the need to improve political relations, particularly with Ukraine. Representatives of the European Commission have also already begun negotiations with the Hungarian side following the elections.
The European Commission has launched urgent consultations with Péter Magyar following his decisive victory in the Hungarian elections.
Brussels expects the new leader to begin restoring relations with Ukraine and launch the reforms necessary to unlock approximately €35 billion in EU funds.
Expectations from Budapest
According to EU representatives, the election result exceeded expectations but at the same time raised the bar for the future government.
"He (Mátyás – Ed.) has a full mandate for change... and we have been working with him from day one. The mood is: let’s double down on him. If they fulfill their promises, we will fulfill ours," said a high-ranking EU official.
Key conditions for cooperation
EU diplomats note that the unblocking of €90 billion in aid to Ukraine and the lifting of Hungary’s veto on a new package of sanctions against Russia will be important signals.
These steps are seen as confirmation of Budapest’s readiness to restore relations with the European Union.
Frozen funds and EU demands
About €35 billion in funds for Hungary remain blocked due to disputes with Brussels and the former government’s refusal to implement reforms.
Of this amount, nearly €18 billion is frozen due to violations of the rule of law and corruption risks, while another €17 billion is in the form of preferential loans.
To receive the funds, Hungary must fulfill 27 conditions, including anti-corruption measures and the revision of decisions that the EU considers to be in violation of Union rules.
Pressure and Next Steps
The European Commission also expects a resolution to the conflict related to Hungary’s failure to comply with European Court of Justice rulings on asylum.
This dispute has already resulted in fines totaling nearly 900 million euros.
"We have quite a few levers of influence. The pressure is on him, and I think he (Mágyar. — Ed.) wants to achieve results quickly," noted the EU representative.
Mágyar plans his first foreign visits to Warsaw and Vienna, and does not rule out a trip to Brussels before the inauguration to discuss financial issues.
At the same time, the EU is taking into account the risks associated with the transition period, during which the current government could influence future reforms.
Mágyar has spoken out against Ukraine’s rapid accession to the EU.
Péter Mádor is the second cousin of the former president of Hungary and the grandson of a judge
Mátyás called on Orbán’s puppets to resign
