Armstrong Economics Blog/War Re-Posted May 19, 2023 by Martin Armstrong
The European Peace Facility (EPF) was established in March 2021 to “preserve peace, prevent conflicts and strengthen international security.” So why are the funds being funneled to promote the war in Ukraine after all peace talks were denied? The Hungarian government is asking the same question and recently blocked a 500 million euro payment to Ukraine from the EPF, sparking extreme backlash from the other EU members.
“Hungary does not agree with the fact that the European Union, along with other existing tools, uses the European Peace Facility solely with regard to Ukraine as this does not allow sufficient funds to be channelled to promote the EU’s interests in other areas,” a government spokesman stated. Now the talking heads are claiming Hungary is only safe from Russian aggression due to its NATO status. Prime Minister Viktor Orbán has been criticized as being too far-right, especially as he has called for Trump’s re-election in the US. Orbán has been one of the only EU heads of state to criticize Russian sanctions and question the war in general.
Hungary is proposing that funds be redirected to North Africa, where the forgotten war in Sudan continues, and aiding the Balkans. The EPF has already provided Ukraine with 3.6 billion euros. According to the EPF’s website: “It has a total budget of EUR 7 979 000 000 for the period 2021-2027, with annual ceilings from EUR 399 million in 2021 to EUR 1.434 billion in 2027.” Yet they are willing to go over their annual ceiling to fund the war. And the money is for the war, not peace.
“The EPF finances CFSP actions with military and defence implications that will enhance the Union’s ability to prevent conflicts, build peace, and strengthen international security,” the website further states. The war in Ukraine does not threaten the EU. The EU only saw repercussions after it harshly sanctioned Russia. It is of no coincidence that this fund was developed nearly a year before Russia entered Ukraine. Hungary may be alone in its quest to stop to the endless blank checks, but it is about time someone questioned why every nation is expected to fund a proxy war.