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Hungary & Poland Remain Resolute In EU Veto; Ball In EU's Court

HUNGARY

LOCAL NEWS

  • Hungary & Poland face an ultimatum today to lift their veto or risk being sidelined in the disbursement of the Recovery Fund in the EU's plan B.
  • As the two largest recipients of EU funding, this would be a substantial hit at EUR 180bn and most likely result in less FDI.
  • Hungary has been more resolute in its decision to veto as it is a matter of survival for Orban
  • while Poland has shown cracks in some of its comms as the PiS remains under pressure locally with approval declining rapidly.
  • While it is possible to sidestep Poland and Hungary, it may take months for the plan to be agreed by the EU-25 with delays having substantial negative effects for the bloc.
  • 10:30 GMT Hungary to sell 91-day bills- 12:00 GMT NBH publishes QE tender results (expected to remain flat at HUF 40bn)
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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