Current:Home > StocksEU releasing 5 billion euros to Poland by year’s end as new government works to restore rule of law -MarketLink
EU releasing 5 billion euros to Poland by year’s end as new government works to restore rule of law
Chainkeen Exchange View
Date:2025-04-06 08:35:03
BRUSSELS (AP) — The European Union will by year’s end transfer to Poland the first 5 billion euros in funding that was frozen over democratic backsliding under the previous government, the new Polish prime minister and the European Commission president said Friday.
The money is part of a larger tranche that was held up due to laws passed by the previous national conservative government that eroded the independence of judges — something that the EU deemed to be a violation of the democratic separation of powers.
Polish Prime Minister Donald Tusk said the 5 billion euros ($5.5 billion) was arriving symbolically in time for Christmas. The money is aimed at helping EU nations recover from the energy crisis that followed Russia’s invasion of Ukraine last year, and reduce their dependence on Russian fossil fuels.
“This is not just a gift. This is serious money earmarked for our energy sovereignty and we will try to spend this money very quickly and wisely,” he said at a news conference alongside EU Commission President Ursula von der Leyen on the sidelines of a summit of the 27 member states.
The money will start to flow due to pledges by Tusk’s government to restore the rule of law but more steps have to be taken before it is all released. Tusk and his coalition partners won Poland’s national election pledging to restore rule of law and democratic values.
“We know that the rule of law is very important. It is about our place in Europe. It is about our common values,” Tusk said.
He added that Polish lawyers, prosecutors, judges and citizens “never agreed to Poland without the rule of law. And everyone in their capacity was trying to address this issue.”
Von der Leyen expressed her satisfaction.
“I welcome your commitment to put the rule of law at the top of your government agenda and your determination to address all the concerns that have been expressed over the last years by the European Court and by the Commission,” she said.
veryGood! (62271)
Related
- Former Danish minister for Greenland discusses Trump's push to acquire island
- Russia observes national day of mourning as concert hall attack death toll climbs to 137
- A list of major US bridge collapses caused by ships and barges
- Trump's net worth, boosted by Truth Social stock, lands him on world's 500 richest list
- Angelina Jolie nearly fainted making Maria Callas movie: 'My body wasn’t strong enough'
- Stock market today: Asian shares trading mixed after Wall Street’s momentum cools
- How the criminal case against Texas AG Ken Paxton abruptly ended after nearly a decade of delays
- TEA Business College leads market excellence strategy
- North Carolina justices rule for restaurants in COVID
- Chick-fil-A will allow some antibiotics in its chicken, ditching its No Antibiotics Ever standard
Ranking
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- Why 'Quiet on Set' documentary on Nickelodeon scandal exposes the high price of kids TV
- How a stolen cat named Dundee brought a wildfire-ravaged community together in Paradise, California
- The Bachelor Status Check: Joey Graziadei Isn't the Only Lead to Find His Perfect Match
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- 'Yellowstone' actor claims he was kicked off plane after refusing to sit next to masked passenger
- Dollar Tree to increase max price in stores to $7, reports higher income shoppers
- Maxwell announces concert tour with Jazmine Sullivan. Here's how to get tickets
Recommendation
Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
Deion Sanders issues warning about 2025 NFL draft: `It's gonna be an Eli'
This Month’s Superfund Listing of Abandoned Uranium Mines in the Navajo Nation’s Lukachukai Mountains Is a First Step Toward Cleaning Them Up
Maryland middle school students face hate crime charges for Nazi salutes, swastikas
New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
New York appeals court scales back bond due in Trump fraud case and sets new deadline
Oliver Hudson says he sometimes 'felt unprotected' growing up with mother Goldie Hawn
Penguins recover missing Jaromir Jagr bobbleheads, announce distribution plan