Free Trial

EU Diplomat: Need Movement From HU, PL Today/Tmrw Or Its Plan B

EU PRESS

Wires reporting an unnamed EU diplomat as stating that there needs to be movement from Hungary and Poland on the progress of the long-term EU budget and COVID-19 recovery fund either today or tomorrow. If there is not the sufficient movement then the EU will go to 'plan B'.

  • As was trailed last week, 'plan B' would involve a separate EUR750bn COVID-19 recovery fund not attached to the multiannual financial framework and not involving either Poland or Hungary.
  • Following this path would represent a major step away from EU unity and the aims of 'ever closer union' in specifically excluding member states from a programme in order to circumvent a veto.
  • It is also a high-risk strategy, insofar as it could bring about the prospect of a 'two-speed EU', in which those countries keen on further integration move closer together, while those opposed veto projects that deepen integration and are simply bypassed by the others.

To read the full story

Close

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.