The European Union reached a deal in principle to send an 18 billion euro financial aid package to Ukraine and approve a minimum tax of major corporations in a big move that overcame a rift between the European Union and recalcitrant member Hungary.
The 27 envoys of the EU nations reached the deal late Monday in a move that also sees Budapest getting a bigger part of promised funds that had long been in jeopardy over complaints by the other member states that Prime Minister Viktor Orban had veered away from the democratic rule of law.
Hungary had used its veto up to now to get the two major deals through, amid complaints from others that Orban was abusing his powers so he could get his recovery and aid funds. “Megadeal!,” the EU’s Czech presidency said on Twitter. The deal is still tentative because it needs to be signed off on but no major obstacles are expected.
The deal comes ahead of Thursday’s summit of EU leaders and a continued rift with Budapest could have turned the meeting into a messy affair.
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