Poland and Hungary block EU recovery fund over rule of law

By Lewis McLellan
17 Nov 2020

The EU recovery fund has hit a major obstacle in its journey to capital markets. Hungary and Poland have vetoed the "own resources decision", which would allow the EU to access the bond market on its own account.

The own resources decision would allow the EU to create the budgetary space to allow it to repay the €750bn it intends to borrow to finance the EU’s coronavirus recovery vehicle, the Next Generation EU programme.

The decision requires unanimous member state approval but Hungary and Poland have ...

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