EU to ‘cripple Hungary’s economy’ if it vetos Ukraine aid again
The European Union will attempt to cripple Hungary’s economy if it vetoes a proposed £43million ($54million) aid package for Ukraine again, it has been reported.
The Financial Times said the EU has drawn up a plan to cut all funding to Hungary that it believes would spook financial markets.
Officials believe that would heavily undermine Hungary’s forint currency and stifle foreign investment.
Hungary has signalled that it may lift its veto at a summit of EU leaders on Ukraine scheduled for February 1, having opposed the aid package at a December meeting.
Janos Boka, Hungary’s minister for EU affairs, said Budapest “does not give into pressure”.
All EU member states must approve the aid before it can be sent.