BUDAPEST, March 21. /TASS/. The European Union would be economically ruined if it decides to fast-track Ukraine, Hungarian Prime Minister Viktor Orban said in the wake of an EU summit.
He said that most of the summit participants still support Ukraine's accession to the EU.
"But sooner or later, everyone will understand that Ukraine's accession to the European Union at this stage would mean its economic collapse," he said on a morning program of the Kossuth radio station.
Orban said making Ukraine an EU member would come at a huge cost, and the European Union simply does not have the money for this. The European Commission suggests that the EU countries borrow the funds for this purpose, but the situation is further complicated by impending interest payments on outstanding loans received to stimulate the economy during the COVID-19 pandemic.
"Repayment of a massive loan taken out earlier is on the horizon. In 2027-28, interest and principal will be paid. Calculations show that this will use up 20% of the EU budget - 20 forints out of every 100 forints," Orban said, adding that taking out new loans is "a bad idea."
At the summit, he refused to support the general statement on Ukraine, which provides for fast-tracking the country’s accession to the European Union and disbursingbillions of euros in military assistance. The document was approved by the other 26 participants, but did not become official. Discussion of these issues will continue at the next meeting of the EU leaders at the end of June.