EU debates budget, billions for Ukraine at risk
2:03 PM EST, December 4, 2023
The leaders of the EU countries risk leaving Ukraine unsupported during a crucial stage in its conflict with Russia, reports the Financial Times. This is due to an internal disagreement over a 50 billion euros (approximately $57 billion USD) aid package for Kyiv, coupled with Hungary's stance on blocking Ukraine's entry into the EU.
"Disputes within the European Union over funds and the future of Ukraine threaten key pledges made to Kyiv a few months ago. This happens just as the $60 billion package for Ukraine proposed by the Biden administration experiences a stall in the politically divided US Congress" - the Financial Times reported.
Dispute Over EU Budget Leaves Ukraine Empty-Handed?
As unofficially reported by the Financial Times, EU member states remain far from agreeing on the shared budget - which includes 50 billion euros (approximately $57 billion USD) for Ukraine - ahead of the Brussels summit planned for December 14-15.
Efforts to reach a compromise are facing obstacles posed by the victory of the far-right Freedom Party in last month's Dutch elections, along with a recent German court ruling limiting government loans. Importantly, the Federal Constitutional Court in Germany has ruled that transferring 60 billion euros (approximately $68 billion USD) of unused loans to the climate fund would contravene the constitution and violate the debt brake.
There's more to consider. "Hungarian Prime Minister Viktor Orbán has also pledged to veto the start of negotiations on Ukraine's EU membership" - the Financial Times highlights.
The Reuters agency emphasizes that Kyiv remains hopeful that, during the EU summit in mid-December, member states will agree to begin the lengthy accession negotiations with Ukraine.
