Bond traders push EU rebels into deals they long rejected
Following the surge in interest rates, free money is sounding more and more appealing in the ears of EU leaders accused of democratic backsliding. Within 18 hours, Hungary and Poland agree to fix democratic shortcomings, as recession forecasts for next year come in.
BY MACIEJ ONOSZKO AND MARTON KASNYIK / BLOOMBERG
In a span of 18 hours last week, years of rigid intransigence from the European Union’s two most rebellious nations started to break. First Hungary and then Poland agreed to fix their democracies’ shortcomings in exchange for gaining access to billions of euros of the bloc’s funds.
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