⚖️ 𝗟𝗲𝗴𝗮𝗹 𝗧𝗿𝗼𝘂𝗯𝗹𝗲𝘀: Neither the EP nor RECLAIM were convinced. The EP took legal action against the Commission, accusing it of yielding to Hungarian blackmail. RECLAIM (that’s us!) has filed a separate case at the EU’s top court to challenge the murky decision-making process around the fund unfreeze - ThreadSky

reclaim-eu.bsky.social • 81 days ago

⚖️ 𝗟𝗲𝗴𝗮𝗹 𝗧𝗿𝗼𝘂𝗯𝗹𝗲𝘀: Neither the EP nor RECLAIM were convinced. The EP took legal action against the Commission, accusing it of yielding to Hungarian blackmail. RECLAIM (that’s us!) has filed a separate case at the EU’s top court to challenge the murky decision-making process around the fund unfreeze

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reclaim-eu.bsky.social•81 days ago

𝗕𝘂𝘁 𝗕𝗶𝗹𝗹𝗶𝗼𝗻𝘀 𝗥𝗲𝗺𝗮𝗶𝗻 𝗙𝗿𝗼𝘇𝗲𝗻. The Commission's latest Conditionality Regulation review paints a stark picture—no progress on anti-corruption measures. Hungary remains locked out of €11.7 bn in cohesion funds and €10 bn from COVID recovery funds. Even worse, €1.04 bn is now irreversibly lost

reclaim-eu.bsky.social•81 days ago

𝗪𝗵𝘆 𝘁𝗵𝗲 𝗣𝗲𝗿𝗺𝗮𝗻𝗲𝗻𝘁 𝗟𝗼𝘀𝘀? The €1.04 billion from 2022, frozen due to concerns over corruption, had to be used within two years. Hungary’s failure to progress has led these funds to automatically revert to the EU budget—this irreversible process is known as decommitment.

reclaim-eu.bsky.social•81 days ago

𝗪𝗵𝗮𝘁’𝘀 𝗮 𝗗𝗲𝗰𝗼𝗺𝗺𝗶𝘁𝗺𝗲𝗻𝘁? EU funds operate on a strict "use it or lose it" basis—funds must be spent within a timeframe or they're returned to the EU budget. With more decommitments looming for Hungary, the stakes couldn't be higher. Curious? We explained the decommitments rules here: https://lnkd.in/dqns_RRw

reclaim-eu.bsky.social•81 days ago

𝗧𝗵𝗲 𝗺𝗼𝗻𝗲𝘆 𝗯𝗹𝗲𝗲𝗱 𝗶𝘀 𝗷𝘂𝘀𝘁 𝗴𝗲𝘁𝘁𝗶𝗻𝗴 𝘀𝘁𝗮𝗿𝘁𝗲𝗱. The financial risks for Hungary will escalate sharply in 2025. Hungary must start making progress towards its milestones before June 2025 or it will risk losing €10.4bn in recovery funds.

reclaim-eu.bsky.social•81 days ago

𝗕𝘂𝘁 𝗧𝗵𝗲𝗿𝗲'𝘀 𝗠𝗼𝗿𝗲 𝗼𝗻 𝘁𝗵𝗲 𝗟𝗶𝗻𝗲: By the end of 2025, it will also start losing parts of the 2023 allocations from three Cohesion Programmes affected by the Conditionality Regulation – i.e. another €1 billion. Plus, millions more from the 2022 allocations of ERDF, ESF, and AMIF affected by the CPR.

reclaim-eu.bsky.social•81 days ago

𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗧𝗿𝗼𝘂𝗯𝗹𝗲. The bleeding of EU funds isn't a minor accounting issue. It is risking wreaking havoc on Hungary's economy. The loss of EU funds has already negatively impacted Hungary’s economic forecast and borrowing costs, with Moody’s shifting Hungary’s outlook to negative:

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