Hungary’s leader blinked and went along with the Europen Union’s action to help the Ukraine NOT run out of money while America’s money for the Ukraine is held as a bargining chip between the political parties in Congress…
After weeks of standoff, European Union leaders brought Prime Minister Viktor Orban of Hungary on board and agreed on Thursday to create a 50-billion-euro fund for Ukraine, providing a critical lifeline to a country at risk of financial meltdown in the midst of war with Russia.
The breakthrough was an especially significant one for both Ukraine and the European Union. For Ukraine, it offered stability and assurance as American aid is held up in Congress.
For the E.U., it demonstrated European resolve to stand united in support of Ukraine against Russia, even if the United States wobbles, as well as a determination to bring an often obstructionist Mr. Orban to heel.
Small as his country is, the Hungarian leader has made himself a big antagonist against E.U. rules and norms, drawing both rebukes and monetary punishments from his partners. Mr. Orban has also been an outsized obstacle to many of Europe’s ambitions, including some sanctions against Russia and even Sweden’s bid to join the NATO alliance….
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Under the agreement reached on Thursday, the European Commission, the E.U. executive arm, will draft an annual report on how the Ukraine fund is being used. European leaders will have a chance to debate its performance and raise any concerns about it.
The European Parliament needs to approve the fund by simple majority, a bar that should be easily cleared, and the vote could take place as early as this month.
It appeared that Mr. Orban did not receive anything material in exchange for giving up his veto for the fund, valued at about $54 billion…
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Talks had been gridlocked, and the mood toward Mr. Orban, the closest ally in the European Union of the Russian president, Vladimir V. Putin, had been souring since Mr. Orban blocked the first attempt to introduce the fund for Ukraine in December.
Ukraine needs the money desperately to keep basic services running. The European aid, to be dispensed in the form of loans and grants over the next four years, would both cover immediate needs and allow Ukraine to plan its long-term budget….
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Shortly after the agreement was announced, Prime Minister Mark Rutte of the Netherlands wrote on social media: “I’m delighted that we have reached agreement on support for Ukraine. This 50 billion euro package will help us achieve more structure, transparency and predictability in our financial aid to Ukraine.”
The message was clear, he added: “Ukraine can count on our support, both now and in the future.”
The news was warmly welcomed in Ukraine….
Note…
Hungary is needed by Sweden to ok it’s entery into NATO after Turkey relented and agreed on the Sweden joining…