In article published an opinion site Project syndicate, Soros argues that the compromise treats the challenge of Hungary and Poland to EU values as a “legitimate political position that deserves recognition” – which “only increases” the risks now facing the EU.
Mr. Soros identifies three “basic flaws” in the transaction. Firstly, the declaration significantly undermines the conditionality of the rule of law by changing the content and purpose of the regulation. The text of the regulation agreed by the EU institutions on 5 November, neither the European Commission nor the European Parliament, let alone the national one.
He acknowledges that while the agreement is “ugly and mocks the explicit wish of the European Parliament”, the European Parliament “may well approve of it” – because the COVID-19 stimulus fund needs to be used as a matter of urgency. However, the effect of this compromise “will seriously undermine the confidence that the Union institutions have gained through the establishment of the Recovery Fund”.
Secondly, it postpones the implementation of the rule of law conditionality until 2022. That would be, Mr Soros argues, “a real coup for Orbán, as it would delay possible action only after the next scheduled Hungarian parliamentary elections”.. Third, the European Council limits the European Commission’s ability to interpret and act within agreed EU law. This “dangerous precedent” undermines the Commission’s legal independence and may well be in conflict with the Treaty on European Union. “
Mr Soros acknowledges “the enormous pressure that Chancellor Merkel has worked on” and that “he does not want another country, Hungary, to announce its intention to leave the EU”. However, the primary victims of Merkel’s presumed agreement with Orbán are the Hungarian people, Mr Soros argues. The postponement will allow Fidesz to “change Hungarian laws and constitution” for more than a year and continue to redefine Hungary’s “public funds” in a way that allows him to “channel seamlessly looted lootes from public bodies to private foundations under his control. Cronies.”
Orbán thought he was considering resigning from the EU, Soros writes, because he “cannot afford to reveal the extent of corruption in his administration,” which the EU “rule of law” would have done without exception. ”According to Mr Soros,“ Orbán has stolen and abused during his huge decade, huge sums, including EU funds that should have benefited Hungarians, and he cannot afford to set a practical limit to his personal and political corruption, as illicit proceeds are the fat that keeps the wheels of his administration running smoothly and the guys in line.
George Soros is Chairman of Soros Fund Management and Open Society Fundations. A pioneer in the hedge fund industry that he has written Alchemy of finance, A new paradigm for financial markets: the 2008 credit crunch and what it means, and last An open society.
Source: The Nordic Page