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Hungary caves to EU demands for reform

The European Union scored a big victory over scumbag autocrat Viktor Orban’s Hungary on Tuesday, with the far-right regime vowing to obey demands for a crackdown on fraud and corruption following the bloc’s threat to withhold 7.5 billion euros in funding if they didn’t get their shit together, Bloomberg reports. “If the Hungarian government implements its pledges then the conditionality mechanism ends before year-end” then there’s “no threat of losing EU funds,” EU Justice Minister Judit Varga wrote in a Facebook post late Monday. While Orban himself has yet to move on the changes and has a history of yessing the EU during past skirmishes, some observers say this time will be different given the bloc’s increased leverage. The EU has a significantly stronger negotiation position than Hungary and is likely to drive a hard bargain. Nevertheless, given the importance of EU inflows to Hungary’s macro stability, we continue to expect it to compromise further to achieve a deal,” Goldman Sachs economist Kevin Daly wrote in a research note.

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