EU devises "contingency plan" for Ukraine, aims to circumvent Budapest
2:41 AM EST, December 12, 2023
A proposal has been put forth in Brussels to transfer necessary funds to Ukraine, bypassing the collective budget. Earlier, news of difficult conversations with Budapest had been relayed by various individuals, including the Prime Minister of Estonia, Kaja Kallas.
European Union diplomats are discussing plans that intend to provide extraordinary funds for Ukraine outside the shared budget. This news was reported by the British newspaper, the "Financial Times", on Tuesday.
Hungary's Prime Minister, Viktor Orban, has declared that he will block EU funds for Ukraine amounting to 50 billion euros (approximately 57 billion USD).
Ukrainian and European officials have warned that a lack of consensus in the EU regarding this issue could severely impact Ukraine's financial stability.
EU officials have been exploring potential solutions to surpass the Hungarian blockage about the aid package for Ukraine. These solutions include the release of EU funds currently allocated for Budapest but frozen due to concerns regarding the rule of law.
Informal discussions among diplomats about the feasibility and specifics of a potential financial package must be held. The "Financial Times" has reported that this would provide Ukraine with exceptional financial support for at least a year.
These vital discussions are being held in private among officials of the European Commission and key member states.
Budapest blocks the funds, asserts "Hungary won't change its stance"
"Hungary will not change its mind," stated Hungarian Minister for EU Affairs, Janos Boka. "We can discuss this matter after the December summit with member states, but I don't foresee any factors that could alter our decision," he declared.
Ukrainian Deputy Prime Minister, Olha Stefaniszyna, mentioned on Monday that Ukraine has not received any confirmation that the 50 billion euros (approximately 57 billion USD) will be transferred in one form or another.
"In the absence of a decision on the 50 billion euro (approximately 57 billion USD) amount, we could potentially find a temporary solution," she told reporters. However, she warned that this would leave Ukraine "teetering on the brink of survival with zero financial predictability for the whole year".
She continued by saying that the failure to agree on the aid package and initiate discussions among members would be regarded as a "failure of the entire EU."
