Hungary Must Satisfy EU Demands to Access Funds

Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union.

The European Commission will today propose 27 “supermilestones”
that Hungary needs to reach to access its 5.8 billion euros of recovery money — as well as to unfreeze as much as 7.5 billion euros of regular EU funds that could be suspended this month by national governments over rule-of-law concerns. The conditions include the full transposition of anti-corruption measures previously demanded by Brussels, where some progress has been made, we’re told. The Commission will also propose some goals to enhance the independence of the judiciary and to guarantee the effective audit and control of the funds. Member states will have to confirm the Commission’s proposal in December, while they wait for the government in Budapest to lift its veto on a new financial package for Ukraine and the minimum tax proposal.