A secret plan to sabotage Hungary if Viktor Orbán decides to block a €50 billion aid package for Ukraine again has been drawn up by Brussels officials, the Financial Times can reveal.
The plan reflects growing anger in European capitals over what one diplomat called the “politics of blackmail” by the Prime Minister of Hungary.
The plan directly targets Hungary’s economy by weakening its currency and reducing investor confidence.
The right-wing Prime Minister blocked the aid program for Ukraine in December, prompting an emergency meeting between leaders to be scheduled for Thursday to review the issue.
The document, according to the FT, states that “in the event that there is no agreement at the February 1 summit, some heads of state and government will publicly state that in light of the Hungarian Prime Minister’s nonconstructive behavior (…) they cannot to imagine that EU funds will be given to Budapest”.
Funds as a tool of coercion
Hungary’s economy is highly dependent on the single market. Almost all of its exports cross the border to neighboring countries.
According to Commission data, intra-EU trade accounts for 78% of Hungary’s exports (Germany 28%, Romania, Slovakia, Austria and Italy 5%), while 3% goes to the US and 3% to the UK.
The EU has already tried to use the funds as tools to force Hungary to comply with rule of law policies and implementation. Already, €20 billion in funds have been frozen due to concerns over LGBTI+ rights and other issues.
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Hungary denounces political blackmail
János Bóka, Hungary’s EU minister, told the FT that his country “is not bowing to pressure” and that there is no connection between Ukraine and general access to EU funds. “Hungary has participated and will continue to participate constructively in the negotiations”, he said.
“The document, drawn up by Brussels bureaucrats, simply confirms what the Hungarian government has been saying for a long time: access to EU funds is being used for political blackmail by Brussels”, he wrote in X.
Pressure to remove even the right to vote
It emerged on Friday that several member states were pushing to trigger Article 7 of the European Union Treaty to strip Hungary of its right to vote if Orbán continues to block the EU decision.
There is intense concern about Budapest’s moves. European Council President Charles Michel abandoned plans to step down in June amid fears that Viktor Orbán could preside over summits until a successor is found.
However, diplomats warn that the use of Article 7 would be a last resort and should not be used, despite the furor over Hungary.
