Zürcher Nachrichten - Brussels misreads Magyar

EUR -
AED 4.175728
AFN 73.328437
ALL 92.12319
AMD 413.073921
ANG 2.035429
AOA 1043.654828
ARS 1733.645151
AUD 1.619717
AWG 2.047804
AZN 1.929658
BAM 1.955205
BBD 2.290054
BDT 139.988644
BGN 1.913869
BHD 0.428546
BIF 3410.637413
BMD 1.136879
BND 1.453322
BOB 13.921948
BRL 5.940079
BSD 1.137029
BTN 109.070258
BWP 15.545476
BYN 3.441704
BYR 22282.831098
BZD 2.286635
CAD 1.611242
CDF 2643.243691
CHF 0.945292
CLF 0.027864
CLP 1100.237215
CNY 7.628971
CNH 7.629846
COP 3833.658771
CRC 516.376973
CUC 1.136879
CUP 27.287899
CVE 110.615584
CZK 24.397762
DJF 202.045914
DKK 7.476079
DOP 63.523102
DZD 152.155133
EGP 59.224244
ERN 17.053187
ETB 185.279579
FJD 2.543426
FKP 0.858135
GBP 0.857639
GEL 2.972931
GGP 0.858135
GHS 13.250277
GIP 0.858135
GMD 84.129164
GNF 9951.102741
GTQ 8.683435
GYD 237.900764
HKD 8.919101
HNL 30.520983
HRK 7.532055
HTG 148.801276
HUF 367.143218
IDR 20468.826746
ILS 3.501135
IMP 0.858135
INR 109.123401
IQD 1489.360006
IRR 1563038.2821
ISK 136.971423
JEP 0.858135
JMD 179.985245
JOD 0.806063
JPY 178.950458
KES 147.430914
KGS 99.418378
KHR 4614.657011
KMF 492.268388
KPW 1023.191585
KRW 1546.292209
KWD 0.351091
KYD 0.947524
KZT 499.99229
LAK 25510.575738
LBP 101814.469258
LKR 376.332132
LRD 195.553089
LSL 18.68358
LTL 3.356908
LVL 0.687686
LYD 7.272915
MAD 10.948962
MDL 20.10115
MGA 4987.54849
MKD 61.551275
MMK 2387.259195
MNT 4088.298238
MOP 9.186926
MRU 45.546544
MUR 53.967978
MVR 17.564927
MWK 1971.526233
MXN 20.450757
MYR 4.640284
MZN 72.657494
NAD 18.68358
NGN 1505.819136
NIO 41.83764
NOK 10.842985
NPR 174.517583
NZD 2.006494
OMR 0.437134
PAB 1.136969
PEN 3.863495
PGK 5.143526
PHP 71.042411
PKR 315.023605
PLN 4.369538
PYG 6677.968423
QAR 4.144239
RON 5.276139
RSD 117.410088
RUB 96.042466
RWF 1678.71145
SAR 4.27002
SBD 9.168529
SCR 15.90461
SDG 683.84998
SEK 11.322464
SGD 1.452594
SHP 0.858346
SLE 28.023601
SLL 23839.777847
SOS 649.845174
SRD 42.8444
STD 23531.1028
STN 24.494164
SVC 9.948061
SYP 14781.702837
SZL 18.678893
THB 38.129142
TJS 10.488448
TMT 3.990446
TND 3.366876
TOP 2.737332
TRY 55.698665
TTD 7.716856
TWD 36.144685
TZS 2995.679938
UAH 51.019579
UGX 4450.724294
USD 1.136879
UYU 45.576936
UZS 13433.149672
VES 969.111532
VND 29529.867161
VUV 133.925611
WST 3.121549
XAF 655.957
XAG 0.018746
XAU 0.000276277497
XCD 3.072473
XCG 2.049095
XDR 0.803833
XOF 655.957
XPF 119.331742
YER 269.042434
ZAR 18.643117
ZMK 10233.283289
ZMW 22.142556
ZWL 366.074618
SSP 6494.52655
MXV 2.315995
  • RBGPF

    -1.5200

    64.47

    -2.36%

  • RYCEF

    -0.0400

    19.56

    -0.2%

  • CMSC

    0.0000

    20.4

    0%

  • NGG

    -0.2500

    75.24

    -0.33%

  • BCC

    -0.5500

    76.59

    -0.72%

  • RIO

    -0.1500

    94.41

    -0.16%

  • BCE

    -0.4100

    20.56

    -1.99%

  • CMSD

    -0.0300

    20.27

    -0.15%

  • RELX

    -0.4500

    33.07

    -1.36%

  • VOD

    -0.0400

    16.58

    -0.24%

  • JRI

    -0.2500

    10.77

    -2.32%

  • GSK

    0.4600

    49.7

    +0.93%

  • BP

    0.2800

    44.43

    +0.63%

  • BTI

    0.4200

    56.05

    +0.75%

  • AZN

    -0.4300

    166.15

    -0.26%


Brussels misreads Magyar




Hungary’s April 2026 parliamentary elections upended a 16‑year epoch. Péter Magyar’s Tisza Party, a relatively new centrist movement, swept to victory with 138 of 199 parliamentary seats, ending the long rule of Viktor Orbán and his nationalist Fidesz party. The scale of the win handed Magyar a two‑thirds majority in the Hungarian parliament, allowing him to reshape the constitution and policy without Fidesz support. The triumph was widely celebrated across Europe. European Commission President Ursula von der Leyen congratulated Magyar and proclaimed that Hungary had “chosen Europe.” Polish Prime Minister Donald Tusk posted a jubilant video declaring that “Europe is back,” and Germany’s Chancellor Friedrich Merz called the result a sign that the pendulum was swinging away from right‑wing populism.

Yet within hours of the celebrations Brussels began whispering that its long‑standing feud with Budapest might finally be over. Officials mused that billions of euros in frozen cohesion funds could soon flow to Budapest again, that Hungary would stop vetoing aid to Kyiv, and that a new pro‑European partnership would emerge. In the eyes of many in the European quarter, Orbán’s defeat seemed to mark the end of illiberal drift in Central Europe. But such optimism reveals a miscalculation about both Magyar’s priorities and the region’s shifting balance of power.

What Brussels expected versus what Magyar promised
Orbán’s downfall was driven more by domestic grievances than by ideological shifts. Voters were angered by corruption benefiting Fidesz cronies, frustration with soaring prices and low wages, and deteriorating public services. Many simply wanted change after four consecutive Fidesz administrations. Péter Magyar harnessed this desire by promising to root out corruption, restore the rule of law, improve healthcare and education, and increase wages and pensions. He pledged to make Hungary a reliable member of the European Union but also insisted on preserving national sovereignty. During the campaign he carefully avoided polarising cultural issues and rejected labels of “left” or “right.”

Some of his positions align comfortably with Brussels. He has vowed to unblock a €90 billion EU loan package for Ukraine that Orbán repeatedly vetoed and to accelerate negotiations to bring Kyiv closer to the EU. He wants to unlock EU funds to stimulate Hungary’s stagnant economy; the Tisza manifesto calls for phasing out Russian energy imports and reducing dependence on Moscow by 2035. However, he also opposes the EU’s migration and asylum pact and insists on maintaining the border fence built by Fidesz. At a post‑election press conference he said Hungary would continue buying Russian energy for now because it remained the cheapest option. He also stressed that he would speak to Vladimir Putin if the Russian president called him – though he doubted any call would end the war in Ukraine.

For Brussels, releasing frozen funds will hinge on rapid institutional reforms to restore judicial independence and dismantle Orbán’s patronage networks. Donald Tusk’s experience in Poland offers a cautionary example: when his Civic Coalition returned to power in Warsaw in 2023, the European Commission released €137 billion in blocked funds based on a plan to undo rule‑of‑law breaches. Two years later, Tusk still grapples with a conservative president and a lack of parliamentary supermajority, and the reforms are far from complete. Influential voices in Brussels argue that funds for Hungary should be freed gradually and conditional on tangible progress. Others see the money as leverage to coax Magyar into accepting EU migration policies and deeper energy diversification. The assumption that the new Hungarian government will automatically align with Brussels on every issue is therefore premature.

Lessons from Poland and a regional realignment
The political earthquake in Budapest has significant repercussions for Central Europe’s geopolitical balance. Hungary is one of the four Visegrád countries, alongside Poland, the Czech Republic and Slovakia. Under Orbán, Budapest was a constant irritant at EU meetings: he delayed aid packages for Ukraine, cultivated close ties with Moscow and Beijing, and used his veto power to block EU initiatives. Poland, led by Donald Tusk since 2023, adopted the opposite course – championing Ukraine’s cause, strengthening ties with Brussels and Washington, and sharply criticising Orbán. Tusk once complained that while there was no “Ukraine fatigue” in the EU, there was “Orbán fatigue.”

Magyar has signalled that his first foreign trip will be to Warsaw. He told supporters on election night that Hungary would rebuild cooperation within the Visegrád group and that Warsaw would be the starting point. Analysts expect a rapid rapprochement between Budapest and Warsaw. The shared agenda includes support for Ukraine, respect for the rule of law, and a pro‑European outlook while protecting national sovereignty. For Poland, Magyar’s victory offers an opportunity to regain influence in Central Europe. Warsaw lost a like‑minded partner when Slovakia elected the populist Robert Fico in 2025 and when the Czech Republic’s Andrej Babiš returned to power in 2025. Fico and Babiš have echoed Orbán’s anti‑Brussels rhetoric and opposed sanctions on Russia. With Orbán gone, Poland may find itself the senior partner in an emerging Warsaw–Budapest axis, potentially supported by progressive forces in Slovakia and the Czech opposition. This could strengthen Tusk’s position inside the EU Council, especially on foreign and security policies.

The Foreign Policy Research Institute notes that Budapest’s relations with Warsaw, Prague and Bratislava will evolve and change the geopolitical dynamic of the Visegrád group. Hungary’s alliance with Poland could counterbalance the populism of Prague and Bratislava. Czech Prime Minister Babiš praised Orbán and opposed deeper EU integration, while Slovak leader Fico cultivated pro‑Moscow positions. With Orbán defeated, both leaders may feel isolated; Fico could be “sweating bullets,” now that he can no longer hide behind Orbán’s confrontations with Brussels. Hungary’s new government therefore opens the possibility of a more pro-European Visegrád centre led by Warsaw and Budapest. Brussels’s miscalculation lies in underestimating how this new axis could shift power away from traditional EU institutions and into regional alliances.

The challenges ahead: dismantling Orbanism and unlocking funds
Magyar inherits a state apparatus deeply entangled with Fidesz loyalists. Orbán’s decade‑and‑a‑half in power saw the rewriting of Hungary’s constitution, reshaping of electoral rules and control of the judiciary, media and civil service. The Fidesz government channelled billions of euros in EU funds to politically connected foundations and think tanks, such as the Mathias Corvinus Collegium, now one of Europe’s best-funded conservative institutes. Dissolving this network will require constitutional amendments, legislation and a purge of Fidesz appointees. ECFR analysts warn that restoring the rule of law in a post‑illiberal system is extremely difficult: Poland’s own attempts to reverse PiS reforms show that dismantling entrenched patronage takes time and can provoke resistance from entrenched interests.

Magyar’s two‑thirds majority gives him the legal means to effect sweeping reforms quickly. However, he must also manage expectations at home. Many voters hope for immediate improvements in living standards and the public sector, while Tisza’s ideologically diverse coalition includes conservatives, liberals and centrists who may disagree over social issues. If reforms lag or economic pain persists, his support could erode. Brussels’s miscalculation would be to assume that early gestures – such as releasing funds or lifting vetoes – will automatically entrench pro-European forces. The EU must instead calibrate incentives carefully, rewarding genuine progress while avoiding the perception of meddling. Otherwise, Eurosceptic forces in Hungary could exploit frustration and polarisation.

Western perceptions and Hungarian public sentiment
Outside observers often frame the election as a battle between liberalism and conservatism. Many comments from Hungarian social media suggest a more nuanced reality. Some Hungarians emphasise that Magyar never promised to be “ultra-left liberal” but campaigned for justice, fairness and a functioning economy within the EU. Others stress that he is neither right nor left but a pragmatist who promises checks and balances and the right to protest. Many hope his government can restore pride in being Hungarian and re-establish Hungary as a respected EU member.

Critics note that Hungary continues to have the EU’s highest value-added tax and that self-employed workers faced steep tax hikes under Fidesz. There is also scepticism toward Western pronouncements: one commenter said he would judge Magyar by his actions, not by EU leaders’ praise. Another noted that the key task is rebuilding democracy with checks and balances to counter corruption, Russian influence and propaganda. Some suggested that Western Europe misunderstands Hungarian voters, who care about practical issues like wages and public services more than ideological labels. Still others highlight how Poland and other eastern nations stand to gain from Orbán’s defeat, while Russia and Putin stand to lose. These sentiments reveal a complex mix of hope, caution and regional solidarity that Brussels would do well to consider.

Conclusion: a turning point with caveats
The 2026 Hungarian elections mark a turning point for both Hungary and the European Union. Orbán’s defeat removed one of Brussels’s most vexing adversaries and signalled voter fatigue with corruption and economic stagnation. Péter Magyar’s victory opens the door to restoring democratic institutions, improving public services and mending relations with the EU. But Brussels’s expectations must be tempered by the realities of post‑illiberal transitions. Unlocking frozen EU funds and reshaping Hungary’s judiciary will take time and political capital. Magyar’s positions on migration and energy show that he will not automatically align with every EU policy. Meanwhile, Poland’s Donald Tusk stands poised to gain influence through a renewed Warsaw–Budapest partnership, shifting the centre of gravity within the Visegrád group.

Rather than celebrating prematurely, EU leaders should engage patiently with Hungary’s new government, offering support while maintaining conditionality. They must recognise that Central Europe’s political landscape is fluid: populism may recede in one country but resurge in another. Brussels’s miscalculation would be to see Magyar as either a saviour or a pawn. The more accurate view is that he embodies a pragmatic nationalism committed to Europe but rooted in Hungarian realities. Navigating this complexity will determine whether Hungary’s democratic revolution endures and whether Poland indeed becomes the region’s influential voice in the European Union.