Hungary and Poland on Monday blocked the adoption of the
2021-2027 budget and recovery fund by European Union governments
because the budget law included a clause which makes access to
money conditional on respecting the rule of law.
This delay the launch of the 1.8 trillion euro package that
combines the EU's long-term budget and the bloc's economic
recovery plan.
In a Project Syndicate article published on Thursday, Soros said
Hungary and Poland's veto of the EU budget and coronavirus
recovery plan could be circumvented.
If there is no agreement on a new EU budget, the old budget
could be extended on a yearly basis. If this is the case, Poland
and Hungary would risk not receiving any payments under new rule
of law conditions, the financier and philanthropist argued.
"The EU can't afford to compromise on the rule-of-law
provisions," Soros wrote. He added that in the case of Hungary,
EU funds should be directed to local authorities.
(Reporting by Dhara Ranasinghe; editing by Sujata Rao)
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