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Free AccessPolish Justice Min: Confident PM Will Veto EU Budget Alongside Hungarian PM
Wires reporting that Polish Justice Minister Zbigniew Ziobro has said that he is 'confident' that Prime Minister Mateusz Morawiecki will veto the European Union's long-term budget alongside Hungarian Prime Minister Viktor Orban at the European Council summit on Thursday.
- The governments of both countries oppose the adoption of a mechanism that links the distribution of funds to 'rule of law' criteria. EU institutional leaders and MEPs have decried actions by gov'ts in Warsaw and Budapest, arguing they go against EU values on independent judiciaries and respect for the rule of law. The national gov'ts have said the laws relating to their judiciaries are their own sovereign decisions to make.
- The rule of law mechanism only requires approval from a qualified majority of the Council, meaning Hungary and Poland cannot block it on their own. Instead, they would have to pursue the 'nuclear option' and veto the whole long-term budget and associated COVID-19 recovery fund.
- Wires reporting a senior EU official stating the obvious, in that if either country uses their veto there will be a 'crisis' within the EU.
To read the full story
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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.