Hungary's incoming Prime Minister Peter Magyar will travel to Brussels this week for informal talks with European Commission President Ursula von der Leyen to unblock EU funds frozen over disputes with his predecessor, Viktor Orbán.
Key Takeaways
Hungary's incoming Prime Minister Peter Magyar will meet with European Commission President Ursula von der Leyen to discuss unblocking frozen EU funds. The meeting aims to address disputes over corruption, media freedoms, and judicial reforms that have stalled billions in funding. Viktor Orbán has stepped down from parliament after his party's defeat.
Magyar, whose centre-right Tisza party won a supermajority in the April 12 election, aims to avoid losing some €10 billion ($11.7 billion) of EU pandemic recovery funding by an end-August deadline. He outlined four key areas for swift action, including measures to battle corruption and restore media and academic freedoms.
Orbán, a close ally of former U.S. President Donald Trump, often clashed with the EU over rule of law and human rights issues, resulting in the freezing of billions in funds. Magyar's victory has raised hopes that the EU will unblock the funds, leading to a rally in financial markets and a surge in the forint currency.
Orbán announced he would give up his seat in parliament to focus on rebuilding his Fidesz-KDNP party after its election losses. He plans to remain in charge of Fidesz and will seek re-election in June to keep the job. Magyar is set to take over as prime minister on May 9, with a two-thirds majority allowing him to undo some of Orbán's actions, including media and judicial reforms.
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