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European Unity in tatters as Brussels vote to take action against Hungary

The European Union leaders must be feeling pretty confident after a decisive victory by the pro-EU candidate Emmanuel Macron in the French election as they risked the unity within the European by taking steps against the Hungarian government and its defiant leader Viktor Orban. Mr. Orban outraged the EU officials by rejecting the European Union’s migrant quotas and vowing not to accept any refugees. Both Hungary and Poland have moved to court to block the European migrant quotas.

Outraged by Mr. Orban for years, the members of the European parliament (MEP) voted heavily in favor of taking up sanctions that might include reduction of voting rights. The vote was 339 in favor of taking sanctions, while 221 voted against it. The European bloc accuses the Hungary as being in serious and persistent breach of its core values and ethics.  After the votes Eurocrats accused Hungary of failure to “respect for human dignity, freedom, democracy, equality, the rule of law and respect for human rights”.

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July 26 18:00 UTC Released

USFed Funds Target Rate

Actual

1.00-1.25 %

Forecast

1.125 %

Previous

1.125 %

July 26 15:30 UTC Released

BRForeign Exchange Flows*

Actual

-2.885 bln

Forecast

Previous

-2.949 bln

July 26 23:00 UTC 2424m

KRNew Home Sales-Units*

Actual

Forecast

2.7 mln

Previous

2.9 mln

July 26 23:00 UTC 2424m

EZGDP Growth QQ*

Actual

Forecast

0.6 %

Previous

1.1 %

July 26 23:00 UTC 2424m

EZGDP Growth YY*

Actual

Forecast

2.7 %

Previous

2.9 %

July 26 23:00 UTC 2424m

KRGDP Growth QQ*

Actual

Forecast

0.6 %

Previous

1.1 %

July 26 23:50 UTC 7474m

JPForeign Invest JP Stock

Actual

Forecast

Previous

341.0 bln JPY

July 26 23:50 UTC 7474m

JPForeign Bond Investment

Actual

Forecast

Previous

947.8 bln JPY

July 26 23:50 UTC 7474m

JPForeign Bond Investment

Actual

Forecast

Previous

947.8 bln JPY

July 26 23:50 UTC 7474m

JPForeign Invest JP Stock

Actual

Forecast

Previous

341.0 bln JPY

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