EU Virus Aid Distribution Plan ‘Absurd and Perverse,’ Orban Says

(Bloomberg) -- The European Union’s distribution plan for its 750 billion-euro ($825 billion) recovery package is “absurd and perverse,” Hungarian Prime Minister Viktor Orban said.

“The new distribution system which was presented to us contains an absurd and perverse solution,” Orban told public radio on Friday. “It would grant more funds to the rich than the poor. So what’s the point of the whole thing?”

The EU plan to collectively issue bonds to finance the recovery fund also triggers a “red warning signal,” Orban said, as Hungarian taxpayers would also be on the hook to pay back debt if another EU member fails to do so.

“I don’t reject this outright though my instinct shudders at it,” Orban said. “We need to assess this in a cool and calm manner as this is something that may define Hungary’s future for decades to come.”

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