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European Parliament Endorses Downbeat View on Hungary Progress Toward

HUNGARY
  • European Parliament votes on Hungary resolution and 'adopts' the view outlined by the lawmaker panel last week (that Hungary's actions had fallen short of rule-of-law requirements). Largely symbolic and very much expected.
  • Real deadline lies on December 6th, with EU finance ministers issuing their judgement at the ECOFIN on cohesion fund payments - I.e. The E7.5bln in frozen funding.
  • The Gulyas comments this morning show Budapest remains confident here, albeit potentially with a delayed timeline (sees funds flowing next year from Q2).

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