On 13 March 2012 the Council of the EU ministers adopted a decision suspending €495.2 million in scheduled commitments for Hungary under the EU’s cohesion fund, to be implemented from January 2013.
This was the result of the fact that Hungary did not take enough measures to reduce its budget deficit and meet the target of 3% of GDP.
This is the first time that a clause enabling the suspension of commitments has been invoked since the cohesion fund was established in 1994.
It should be reminded that Germany and France were the first ones to break the 3% deficit limit agreed in the Stability the Growth Pact in 2003. Back then, the Commission requested Germany to reduce its structural deficit by 0.8% of the GDP, and France by 0.4%. The recommendation was blocked in the Council. As a result there was no case for imposing sanctions if these countries would not comply.
Commitments suspended for Hungary amount to 29% of scheduled commitments for 2013. Germany’s GDP per capita in PPP prices is $37,935, France’s is $35,048. Hungary’s is $19,647.
This is not European solidarity. This is not even European cooperation.
This is plain and simple a Europe where the powerful impose their terms on the weak. Good old, traditional rule of power.