The Japan Times - Brussels misreads Magyar

EUR -
AED 4.251811
AFN 74.676969
ALL 91.824045
AMD 420.444952
ANG 2.072782
AOA 1062.80796
ARS 1750.50039
AUD 1.618835
AWG 2.085383
AZN 1.972314
BAM 1.954141
BBD 2.33287
BDT 142.928686
BGN 1.948991
BHD 0.436739
BIF 3455.156879
BMD 1.157742
BND 1.468566
BOB 14.419699
BRL 5.930417
BSD 1.158242
BTN 110.612592
BWP 15.604025
BYN 3.517705
BYR 22691.749795
BZD 2.329483
CAD 1.6062
CDF 2670.911682
CHF 0.947022
CLF 0.027546
CLP 1087.687364
CNY 7.766425
CNH 7.765285
COP 3581.371721
CRC 521.768403
CUC 1.157742
CUP 30.680172
CVE 110.171965
CZK 24.256986
DJF 206.259386
DKK 7.475212
DOP 68.173608
DZD 154.638086
EGP 59.397505
ERN 17.366135
ETB 186.964939
FJD 2.576845
FKP 0.855823
GBP 0.856903
GEL 3.01436
GGP 0.855823
GHS 13.273676
GIP 0.855823
GMD 85.097551
GNF 10182.258182
GTQ 8.843532
GYD 242.323275
HKD 9.080063
HNL 31.087151
HRK 7.53262
HTG 151.385431
HUF 364.266842
IDR 20420.259331
ILS 3.509522
IMP 0.855823
INR 110.425059
IQD 1517.312142
IRR 1591432.615658
ISK 139.75103
JEP 0.855823
JMD 182.95787
JOD 0.820812
JPY 178.405199
KES 149.869739
KGS 101.24519
KHR 4697.134901
KMF 492.039902
KPW 1041.968471
KRW 1557.348276
KWD 0.357002
KYD 0.965202
KZT 522.657667
LAK 25914.340292
LBP 103723.249961
LKR 380.781735
LRD 202.106711
LSL 18.702568
LTL 3.418512
LVL 0.700307
LYD 7.32594
MAD 10.823467
MDL 20.072137
MGA 4985.854259
MKD 61.472823
MMK 2431.206788
MNT 4163.908015
MOP 9.355859
MRU 46.574474
MUR 54.379389
MVR 17.887478
MWK 2008.429989
MXN 19.669576
MYR 4.706802
MZN 73.991729
NAD 18.702729
NGN 1534.437273
NIO 42.624926
NOK 10.769429
NPR 176.983602
NZD 2.00099
OMR 0.446111
PAB 1.158212
PEN 3.895094
PGK 5.228562
PHP 72.776261
PKR 321.100591
PLN 4.325209
PYG 6859.32609
QAR 4.222035
RON 5.251281
RSD 117.229992
RUB 97.782461
RWF 1708.479398
SAR 4.343242
SBD 9.276996
SCR 15.939851
SDG 696.38304
SEK 11.263849
SGD 1.468891
SHP 0.857047
SLE 28.422534
SLL 24277.268525
SOS 661.949588
SRD 43.899856
STD 23962.928893
STN 24.479751
SVC 10.134617
SYP 15052.966154
SZL 18.705527
THB 38.391
TJS 10.713614
TMT 4.063676
TND 3.380445
TOP 2.787566
TRY 56.288972
TTD 7.861497
TWD 36.728225
TZS 3065.140207
UAH 51.592801
UGX 4482.176281
USD 1.157742
UYU 46.621234
UZS 13620.38053
VES 962.602203
VND 30019.679914
VUV 136.98027
WST 3.167567
XAF 655.957
XAG 0.018085
XAU 0.000267
XCD 3.128856
XCG 2.087428
XDR 0.818584
XOF 655.957
XPF 119.331742
YER 274.443075
ZAR 18.740497
ZMK 10421.070972
ZMW 22.354605
ZWL 372.79256
SSP 6540.376337
MXV 2.230968
  • GSK

    0.0100

    48.13

    +0.02%

  • RBGPF

    0.2800

    68.02

    +0.41%

  • VOD

    0.0700

    17.4

    +0.4%

  • RYCEF

    0.4100

    19.54

    +2.1%

  • NGG

    0.4800

    76.86

    +0.62%

  • CMSC

    0.0100

    20.45

    +0.05%

  • RELX

    -0.0200

    33.8

    -0.06%

  • BCE

    0.1400

    23.39

    +0.6%

  • RIO

    0.5700

    99.96

    +0.57%

  • CMSD

    -0.0200

    20.32

    -0.1%

  • BCC

    0.3900

    75.44

    +0.52%

  • BTI

    0.3800

    55.24

    +0.69%

  • AZN

    0.5300

    160.17

    +0.33%

  • BP

    0.0200

    46.1

    +0.04%

  • JRI

    -0.0700

    12.01

    -0.58%


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.