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GAC Gets Underway With Art.7 Procedures, Dec EUCO & '24 Programme On Agenda

EU

The General Affairs Council meeting of EU Affairs ministers is underway in Brussels with a number of significant issues on the agenda.These include state of Article 7(1) TEU infringement proceedings against Hungary and Poland, preparations for the Dec EUCO summit, and the Commission's 2024 work programme.

  • Regarding Hungary, the Commission has stated that it is continuing to review the Art.7 procedure amid concerns among some that EU funds to Budapest previously frozen could be unfrozen in exchange for Hungary not vetoing the revised EU budget that included additional funds for Ukraine. The situation in Poland could prove more promising. With a pro-EU coalition likely to come to power in the coming weeks, a shift in Warsaw's relations with Brussels could signal the end of the infringement proceedings amid a rollback of measures the EU views as impacting on rule of law.
  • On the 14-15 Dec EUCO summit, ministers look set to agree on an agenda including discussions on the war in Ukraine and Gaza, the plans to revise the EU's long-term budget in order to increase funds for Ukraine, and the EU's enlargement process, with debate still taking place on when accession talks could begin with Kyiv and Chisinau.
  • The Commission's 2024 Work Programme (the body's policy initiatives for the next 12 months) will be reviewed. The Programme's focus is on improving competitiveness, with the intention to improve regulation, reduce reporting requirements and cut red tape.
  • Presser due to take place at 1730CET (1130ET, 1630GMT).
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EM BulletHomepagemarkets-real-timePolitical Market NewsPolitical RiskEmerging Market NewsPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

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