Magyar to Hold Talks With von der Leyen on EU Funds

Hungary’s incoming prime minister Peter Magyar said he will travel to Brussels on Wednesday for informal talks with European Commission President Ursula von der Leyen, aiming to unlock billions of euros in EU funding frozen over disputes with the previous government.

Magyar, whose Tisza party secured a strong majority in April’s elections, said “there is no time to waste”. His cabinet plans to move quickly to tackle corruption and restore media and academic freedom in order to prevent the loss of around €10bn ($11bn) from the recovery and resilience plan.

The government of Viktor Orban had long been at odds with Brussels over rule of law and human rights issues, leading to the suspension of funds.

Magyar holds a parliamentary majority sufficient to pass reforms addressing the EU’s concerns. Markets have responded positively to his victory, with the Hungarian forint strengthening as investors anticipate improved relations with Brussels and an easing of financial conditions.

(reuters, est)