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Reuters
Reuters
Business
By Gabriela Baczynska and John Chalmers

EU locked in intensifying tug-of-war with Hungary over money

FILE PHOTO: Hungarian Prime Minister Viktor Orban attends the autumn session of parliament in Budapest, Hungary, September 26, 2022. REUTERS/Bernadett Szabo/File Photo

The European Union was haggling with Hungary on Friday over releasing billions of euros in aid in exchange for Budapest revoking its veto on extending a joint loan to Ukraine and acceding to a minimum global tax.

The EU's executive reiterated that recent changes to improve anti-corruption safeguards in Hungary did not resolve concerns about the state of democracy in the country, or warrant handing over up to 13.3 billion euros ($14 bln) worth of funds.

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