Poland, Hungary and the EU budget: what’s at stake

Failure of Poland and Hungary to reach an agreement with the EU over the veto of the bloc’s budget would have severe political and economic consequences if funds were withheld. Even if a deal is agreed, perhaps as soon as the EU Council meeting on 10-11th December, the future relationship between these countries and the EU is likely to become more fraught, which may take a toll on local financial markets.