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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessApproval For Hungary's COVID-19 Recovery Plan Withheld
Politico is reporting that the European Commission is set to withhold its approval of Hungary's proposal for the disbursement of its COVID-19 recovery funds due to concerns regarding the effectiveness of anti-corruption efforts outlines in the plans.
- Hungary is applying for EUR7.2bn of grants under the EU's recovery plan, with a deadline of Monday 12 July for the plan to be approved for funds to be disbursed on time.
- Politico reports that according to its sources, the Hungarian plan fails on two aspects of its anti-corruption measures.
- The refusal of approval comes at a time when the Hungarian gov't of PM Viktor Orban is under increasing pressure from EU institutions and some member states to withdraw a new law seen to be discriminatory to LGBT rights.
- The plenary session of the European Parliament currently underway is attempting to pressure the European Council to launch full Article 7 proceedings against Hungary, which would limit the provision of EU funds to Budapest and withdraw Hungary's voting rights in EU institutions.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.