Ad
Hungary may be the first EU country sanctioned for excessive deficits (Photo: Axel Buhrmann)

Hungary feels the heat of new EU budget rules

Finance ministers are on Tuesday expected to approve the freezing of €495 million in funds for Hungary if Budapest fails to bring down its deficit in the coming six months. - the first such move under the EU's strengthened budget rules.

A large majority of member states is said to favour the two formal proposals: One giving Hungary a six-month deadline for "sufficient corrective measures" slashing budget spending by 0.5 percent of the country's gross domestic product, the other setting...

Get EU news that matters

Back our independent journalism by becoming a supporting member

Already a member? Login here
Hungary may be the first EU country sanctioned for excessive deficits (Photo: Axel Buhrmann)

Tags

Ad

Related articles

Ad
Ad