The EU Threatens To Cripple Hungary's Economy If Orban Vetoes Aid To Ukraine

The EU will sabotage Hungary's economy if Budapest blocks new aid to Ukraine at a summit this week, the Financial Times reports, citing a confidential plan drawn up by Brussels that marks a major escalation in the battle between the Union and its most pro-Russian country. member.

In a document drawn up by EU officials and seen by a financial publication, Brussels outlined a strategy to explicitly target Hungary's economic weaknesses, threaten its currency and cause a collapse in investor confidence in a bid to damage "jobs and economic growth". , if Budapest refuses to lift its veto on aid to Kyiv.

Hungarian Prime Minister Viktor Orban vowed to block the use of the EU budget to provide Ukraine with €50 billion in financial aid at an emergency summit of the union's leaders this Thursday.

If he does not back down, other EU leaders must publicly vow to permanently freeze all EU funding to Budapest with the intention of spooking capital markets, accelerating the devaluation of the Hungarian forint and causing a spike in the cost of servicing Hungary's loans. states in the document cited by the "Financial Times".

"This is Europe saying to Viktor Orban - enough is enough, it's time to respect the common policy. You may have a gun, but we have a bazooka," Mujtaba Rahman, director for Europe at the Eurasia Group consulting company, told the financial publication.

The document from Brussels stated that "in the event of no agreement at the February 1st Summit, other heads of state and government will publicly state this in light of the unconstructive behavior of the Hungarian Prime Minister. They cannot imagine that European funds will be provided to Budapest".

Without this funding, "financial markets...

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