HUNGARY: Commission Proposes Unlocking EUR4.2bln In Frozen EU Funds

The European Commission has proposed: the Conditionality Regulation imposed on Hungary in 2022 due to rule of law breaches be lifted in a move that would unlock EUR4.2bln in frozen Cohesion funding for PM Peter Magyar's gov't. The move would also restore Hungary's full participation in the Erasmus+ programme for students, and the Horizon Europe R&D programme. The European Council now has one month to approve the proposal, with little expected in the way of opposition. * Commission President Ursula von der Leyen said "Hungary has taken important steps to strengthen the rule of law and protect the Union's financial interests. [...] I am glad that they will once again fully benefit from the opportunities our Union creates. This shows that reforms deliver results." * The EUR4.2bln is not the full quotient of EU funds that had been withheld from Budapest in recent years due to rule of law and other EU standards breaches by the gov't of former PM Viktor Orban. * As Euronews noted: -unlock-full-10bn-eu-recovery-fund in late August, "In May, Magyar and European Commission President Ursula von der Leyen agreed to release EUR16.4bln in EU funding [...] Of that total, EUR10bln is due from the