Poland and Hungary submitted a joint proposal, through a written statement, to facilitate rapid adoption of the financial package through a two-way process, as per Reuters.
According to the declaration, Poland and Hungary want to limit any additional budgetary conditionality to the protection of the Union’s financial interests. Furthermore, they want to debate in the European Council whether the link should be established between the rule of law and the financial interests of the Union.
Market reaction
This development was largely ignored by market participants and par EUR/USD was last seen posting small daily losses at 1.1907.
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