European Commission launches mechanism to deprive Hungary's euro

European Commission launches mechanism to deprive Hungary's euro

The European Commission launched a mechanism on Wednesday for the first time that would continue Hungary in the wake of violations of the rule of law without European Union support money.

Rule of law mechanism: First of its kind: EU Commission launches procedure to cut funds for Hungary

Hungary could receive less money from EU funds in the future. Four percent of EU funds are lost there due to corruption.

The European Commission sent an official list to Hungary: the rule of law procedure has been launched

This was announced at noon on Wednesday. From there a 6-9 month process begins, and if it is proved that the EU's financial interests are directly damaged in Hungary, together with the European Council, they may punish the country by suspending or blocking some of the EU funds.