Hungarian Prime Minister Viktor Orbán has issued a new warning that the European Commission (EC)-proposed new loan amount to Ukraine of 135 billion euros will end up being paid for by the grandchildren of EU country populations.

"An astronomical sum that does not exist today. It simply does not exist," he began by saying. "The Brussels 'magic trick' would again be a joint European loan, a step that would guarantee that even our grandchildren would have to pay for the costs of the Russian-Ukrainian conflict," he said.

This was his further response to a letter recently issued to EC President Ursula von der Leyen, seeking to desperately raise more funds for Kiev in order for it to close a some $150 billion budget gap.

"It will now be key to rapidly reach a clear commitment on how to ensure that the necessary funding for Ukraine will be agreed at the next European Council meeting in December," she wrote. 

But Orban chaffed and pointed out that this whopping amount is at least 65% of the annual volume of the Hungarian economy and almost 75% of the annual EU budget, an "absurd" ask. He quipped:

"This is more than impossible. This is absolutely ridiculous. Hungary's response will follow immediately," the Hungarian Prime Minister stressed.

He has also warned that if Brussels decides to use frozen Russian assets, it will trigger lawsuits and potentially the collapse of the Euro.

"Turning to frozen Russian assets. A convenient solution, but the consequences are unpredictable. Lengthy legal proceedings, numerous lawsuits, and the collapse of the euro. This is what awaits us if we choose this path," Orban wrote on social media.

We earlier featured some of his initial reaction, as previously this week he flatly rejected the call for sending more support to Ukraine: 

"I received a letter today from President von der Leyen. She writes that Ukraine’s financing gap is significant and asks member states to send more money," he wrote on X. "It’s astonishing."

"At a time when it has become clear that a war mafia is siphoning off European taxpayers’ money, instead of demanding real oversight or suspending payments, the Commission President suggests we send even more."

Given Ukraine's corruption, and there's a raging scandal currently in the headlines which has resulted in the dismissal of several top officials and ministers, Orban likened the scheme to giving a drunk person more vodka. 

But he vowed that Hungary has not lost its common sense and described, "This whole matter is a bit like trying to help an alcoholic by sending them another crate of vodka." Budapest won't go along with it.

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More of PM Orban's scathing critique on Thursday:

The [EC] President has one problem: she doesn't have this money. What she does have are 3 proposals on the table:

1. That the member states should chip in. Willingly and cheerfully, from their own budgets. As if they had nothing better to do.

2. A well known Brusselian "magic trick": joint borrowing. There's no money for the war today, so our grandchildren will pay the bill. Absurd.

3. A proposal to seize the frozen Russian assets. A convenient solution, but its consequences are impossible to foresee. Lengthy legal wrangling, a flood of lawsuits and the collapse of the euro. This is what awaits us if we choose this path.