Connect with us

World

Hungary blocks approval of €18 billion in EU financial aid for Ukraine

Published

on

Hungary blocks approval of €18 billion in EU financial aid for Ukraine

Hungary has blocked the approval of a brand new EU package deal of economic help for Ukraine price €18 billion, which the Kyiv authorities desperately must cowl their ballooning state deficit and maintain the economic system operating in opposition to the backdrop of Russia’s invasion.

The help is designed to be disbursed over the course of 2023, amounting to €1.5 billion monthly.

The Hungarian veto prompted finance ministers of the European Union to delay different three key votes, together with one on an internationally-backed deal to reform company taxation.

“Hungary will not be in favour of the modification of the monetary regulation,” Hungarian Minister Mihály Varga stated throughout the ministerial assembly on Tuesday.

Hungary is on the verge of getting €7.5 billion of its allotted share of the EU budgets frozen after failing to finish a collection of reforms that are supposed to tackle, amongst different points, corruption, irregularities in public procurement and conflicts of curiosity from authorities officers.

Advertisement

The unprecedented freezing of EU funds was advisable final week by the European Fee underneath a novel conditionality mechanism, designed to safeguard the bloc’s monetary pursuits.

The European Fee’s advice was then handed on to finance ministers, who’ve the ultimate say. However the determination added on high of an extended to-do listing, resulting in a number of information changing into politically interlinked.

Tuesday’s busy agenda included votes on:

  • An OECD-brokered deal to determine a 15% minimal tax on multinational companies.
  • An €18-billion package deal of economic help to assist Ukraine cowl its budgetary deficit throughout 2023.
  • The freezing of €7.5 billion in EU cohesion funds earmarked for Hungary.
  • The approval of Hungary’s COVID-19 restoration fund, price €5.8 billion in grants.

The tax deal has been underneath dialogue since mid-2021 because it must be transposed into EU legislation in an effort to change into efficient. Hungary was the one nation that opposed the deal when it was put to a vote in June, arguing the reform would damage European competitiveness and endanger jobs.

Extra not too long ago, Hungary voiced its displeasure concerning the €18-billion package deal of economic help for Ukraine, which might be bankrolled by means of the issuance of recent widespread EU debt.

Brussels is eager to approve the 2023 envelope as quickly as potential after a much-publicised failure to launch your complete €9 billion that was promised to Kyiv earlier this yr.

Advertisement

As these two information – the tax deal and the monetary help – require unanimity to be handed, Hungary has been in a position to leverage its veto energy to exert stress on the 2 different choices regarding its public coffers – the €7.5 billion in cohesion funds and the €5.8 billion in restoration grants – which solely want a certified majority.

Crucially, the restoration plan needs to be authorized earlier than the tip of the yr, in any other case, Hungary would lose 70% of the pre-allocated money.

Ultimately, the 4 votes turned interlinked, regardless of their distinct nature.

“I want to level out that I see all these subjects as one package deal,” Czech Finance Minister Zbyněk Stanjura stated on Tuesday morning, earlier than heading to the ministerial assembly.

The Czech Republic at present holds the rotating presidency of the EU Council and is tasked with setting the agenda and steering the political debate.

Advertisement

The query of whether or not ministers would take a vote on the 4 points had been the centre of hypothesis in Brussels for the previous couple of days, with diplomats saying that it will all rely on the temper contained in the room.

After an change of views over breakfast, ministers selected Tuesday morning to postpone the important thing votes, a Czech spokesperson stated.

The delay within the help for Ukraine is especially worrisome for the bloc, because the war-torn nation has been plunged into darkness following a brutal barrage of Russian assaults.

“We won’t be discouraged. Our ambition stays that we’ll begin the disbursement of our help to Ukraine in early January,” stated Zbyněk Stanjura, asking the Council’s group to look at “different” options that may bypass the unanimity requirement.

“We will probably be in search of an answer supported by 26 member states.”

Advertisement

It’s unclear when the 4 information might be voted on, as no additional conferences of finance ministers are scheduled to happen earlier than the tip of the yr.

The Czech Republic, nevertheless, may convene an emergency assembly to maneuver ahead with the stalled information.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

World

Ukraine's divisive mobilization law comes into force as a new Russian push strains front-line troops

Published

on

Ukraine's divisive mobilization law comes into force as a new Russian push strains front-line troops

KYIV, Ukraine (AP) — A divisive mobilization law in Ukraine came into force on Saturday, as Kyiv struggles to boost troop numbers after Russia launched a new offensive that some fear could close in on Ukraine’s second-largest city.

The legislation, which was watered down from its original draft, will make it easier to identify every conscript in the country. It also provides incentives to soldiers, such as cash bonuses or money toward buying a house or car, that some analysts say Ukraine cannot afford.

Lawmakers dragged their feet for months and only passed the law in mid-April, a week after Ukraine lowered the age for men who can be drafted from 27 to 25. The measures reflect the growing strain that more than two years of war with Russia has had on Ukraine’s forces, who are trying to hold the front lines in fighting that has sapped the country’s ranks and stores of weapons and ammunition.

Ukrainian President Volodymyr Zelenskyy also signed two other laws Friday, allowing prisoners to join the army and increasing fines for draft dodgers fivefold. Russia enlisted its prisoners early on in the war, and personnel shortages compelled Ukraine to adopt the new measures.

Russian troops, meanwhile, are pushing ahead with a ground offensive that opened a new front in northeastern Ukraine’s Kharkiv region and put further pressure on Kyiv’s overstretched military. After weeks of probing, Moscow launched the new push knowing that Ukraine suffered personnel shortages, and that its forces have been spread thin in the northeast.

Advertisement

Russian President Vladimir Putin said on Friday during a visit to China that the Russian push aims to create “a buffer zone” rather than capturing Kharkiv, the local capital and Ukraine’s second-largest city.

Still, Moscow’s forces have pummeled Kharkiv with strikes in recent weeks, hitting civilian and energy infrastructure and prompting angry accusations from Zelenskyy that the Russian leadership sought to reduce the city to rubble. On Friday, Mayor Ihor Terekhov said that Russian guided bombs killed at least three residents and injured 28 others that day.

Moscow denies deliberately targeting civilians, but thousands have died or suffered injuries in the more than 27 months of fighting.

The U.S. last week announced a new $400 million package of military aid for Ukraine, and President Joe Biden has promised that he would rush badly needed weaponry to the country to help it stave off Russian advances. Still, only small batches of U.S. military aid have started to trickle into the front line, according to Ukrainian military commanders, who said it will take at least two months before supplies meet Kyiv’s needs to hold the line.

Thousands of Ukrainians have fled the country to avoid the draft since Russia’s all-out invasion in February 2022, some risking their lives as they tried to swim across a river separating Ukraine from neighboring Romania and Hungary.

Advertisement

Late on Friday, Ukraine’s border service said that at least 30 people have died trying to cross the Tisza River since the full scale-invasion.

Romanian border guards days earlier retrieved the near-naked, disfigured body of a man that appeared to have been floating in the Tisza for days, and is the 30th known casualty, the Ukrainian agency said in an online statement. It said the man has not yet been identified.

___

Follow AP’s coverage at https://apnews.com/hub/russia-ukraine

Advertisement
Continue Reading

World

An unusual autumn freeze grips parts of South America, giving Chile its coldest May in 74 years

Published

on

An unusual autumn freeze grips parts of South America, giving Chile its coldest May in 74 years

Chileans are bundling up for their coldest autumn in more than 70 years mere days after sunning in T-shirts — a dramatic change of wardrobe brought on this week by a sudden cold front gripping portions of South America unaccustomed to bitter wind chills this time of year.

CHILE SHUTS DOWN A POPULAR GLACIER, SPARKING DEBATE OVER CLIMATE CHANGE AND ADVENTURE SPORTS

Temperatures broke records along the coast of Chile and in Santiago, the capital, dipping near freezing and making this month the coldest May that the country has seen since 1950, the Chilean meteorological agency reported.

An unusual succession of polar air masses has moved over southern swaths of the continent, meteorological experts say, pushing the mercury below zero Celsius (32 Fahrenheit) in some places. It’s the latest example of extreme weather in the region — a heat wave now baking Mexico, for instance — which scientists link to climate change.

Footprints create the shape of a heart in a snow-covered rugby field in Santiago, Chile, Wednesday, May 8, 2024.  (AP Photo/Matias Basualdo)

Advertisement

“The past few days have been one of the longest (cold fronts) ever recorded and one of the earliest ever recorded” before the onset of winter in the Southern Hemisphere, said Raul Cordero, a climatologist at Santiago University. “Typically the incursions of cold air from the Antarctic that drive temperatures below zero occur from June onwards, not so much in May.”

The cold front sweeping in from Antartica has collided with warm air pushing in from the northwestern Amazon, helping fuel heavy rainstorms battering Brazil, according to that country’s National Meteorological system.

Chile’s government issued frosty weather alerts for most of the country and ramped up assistance for homeless people struggling to endure the frigid temperatures on the streets. Snow cloaked the peaks of the Andes and fell in parts of Santiago, leading to power outages in many areas this week.

“Winter came early,” said Mercedes Aguayo, a street vendor hawking gloves and hats in Santiago.

She said she was glad for a boost in business after Chile’s record winter heat wave last year, which experts pinned on climate change as well as the cyclical El Niño weather pattern.

Advertisement

“We had stored these goods (hats and gloves) for four years because winters were always more sporadic, one day hot, one day cold,” Aguayo said.

This week’s cold snap also took parts of Argentina and Paraguay by surprise.

Energy demand soared across many parts of Argentina. Distributors cut supplies to dozens of gas stations and industries in several provinces to avoid outages in households, , the country’s main hydrocarbon company, CECHA, said Thursday.

Advertisement
Continue Reading

World

Brussels, my love? Transparency over MEPs' side jobs

Published

on

Brussels, my love? Transparency over MEPs' side jobs

In this edition, we look at what lawmakers’ extracurricular activities mean for their core role.

ADVERTISEMENT

This week, we are joined by Sophia Russack, senior researcher from the Centre for European Policy Studies, Petros Fassoulas, secretary general of European Movement International and Anna Nalyvayko, senior project officer from the Wilfried Martens Center.

Panelists debate the ethical questions raised by MEPs who have side jobs. Those extra roles are legal, but the political earthquake caused by the Qatarargate scandal led to tighter rules and more transparency.

Is this enough to bridge the gulf between citizens and politicians, in today’s fractured political landscape?

“We see that they have improved rules when it comes to reporting requirements, to laying open your financial situation before and after the offers, and so on. But to be honest, none of these things will prevent another Qatargate,” said Sophia Russack, a think tanker who is an expert in EU institutional architecture, decision-making processes and institutional reform.

Despite these concerns, Petros Fassoulas said MEPs shouldn’t abandon contact with the real world altogether.

Advertisement

“It’s important for them to have the opportunity to bring expertise from outside and engage also with the world outside of the chamber,” Fassoulas said. “An MEP or any parliamentarian should be in contact with the people that they regulate, the businesses that they have an impact on.”

Guests also discussed the reasons for the crisis of public confidence in politicians, and gave some ideas for solutions.

Watch “Brussels, my love?” in the player above.

Continue Reading

Trending