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Parliament Says No to New EU Debt

Hungary Today 2025.03.19.

Parliament has adopted a political declaration rejecting the idea of joint borrowing by the European Union by 138 votes in favor, Magyar Nemzet reports.

The political declaration was submitted to parliament by Zoltán Tessely, Chairman of the Committee on European Affairs of the National Assembly. According to the explanatory memorandum, Hungary agrees with the development of European defense capabilities and with the EU’s contribution to providing national financing needs.

However, the governing parties are opposed to joint EU borrowing.

The parliament also calls on the government to represent Hungary’s interests in the EU institutions in which the government participates, using all legal means.

The issue of joint EU borrowing was also raised by Viktor Orbán in his usual interview with Kossuth Radio last Friday. The Prime Minister argued that

Hungary should not agree to the EU Member States jointly taking out loans, getting into debt, and indebt “not only our children but even our grandchildren.”

“I do not think that Hungary should be involved in this,” he said. He added that we must take part in common defense, in defense policy, and we must also spend money on it, but we must not do it from a joint loan.

Fact

Following a European Council meeting on the ReArm Europe Plan in early March, Commission President Ursula von der Leyen stated that the EU is in need of around 800 billion euros in defense investment. However, in a letter to the Member States, she also mentioned other ways of strengthening national defense, including mobilizing private capital by boosting the European Savings and Investment Union, or reallocating other EU funds for defense purposes, or extending the European Investment Bank’s lending practices to military projects.

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Via Magyar Nemzet, Featured image: MTI/Bodnár Boglárka


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