Hungary's New Leader Vows Constitutional Change to Bar Orbán from Power
In a seismic political shift, Hungary's newly elected prime minister, Péter Magyar, has pledged to overhaul the nation's constitution to impose a two-term limit on the premiership. This move is designed explicitly to prevent the long-serving, Trump-aligned Viktor Orbán from ever reclaiming the top office.
A Landslide Mandate for Change
Magyar, the 45-year-old leader of the centre-Right Tisza party, secured an extraordinary electoral victory. His party is projected to win 138 seats in parliament, dwarfing Orbán's Fidesz party, which is set for 55 seats, and the hard-Right Our Homeland party with six. This result hands Magyar's government a commanding two-thirds supermajority, granting it the power to enact constitutional amendments.
"We did it," Magyar declared in his victory speech. "We brought down the Orbán regime - together we liberated Hungary. We took back our homeland!"
Retrospective Ban on Orbán's Return
At a press conference, Magyar detailed that the proposed term-limit legislation would apply retrospectively. This would effectively ban Viktor Orbán, who has served as prime minister for a total of 20 years across two separate periods, from ever holding the office again. Orbán first became prime minister in 1998 at age 34 as a centre-Right conservative. After losing power in 2002, he returned in 2010, transforming into a pro-Kremlin nationalist whose policies frequently clashed with the European Union.
Magyar framed the constitutional change as a vital safeguard against a return to authoritarian rule. "With the two-thirds majority allowing us to amend the constitution, we will restore the system of checks and balances," he stated.
International Repercussions and Failed Endorsements
Orbán's tenure was marked by close alliances with both former US President Donald Trump and Russia's Vladimir Putin, making him a contentious figure within the EU and a critic of support for Ukraine. In a last-ditch effort to bolster Orbán's campaign, US Vice-President JD Vance travelled to Budapest last week, urging Hungarians to vote for the incumbent.
"We've got to get Viktor Orbán re-elected as prime minister of Hungary, don't we?" Vance told a rally. Trump himself voiced support via telephone, calling Orbán "a fantastic man" and "a big fan." However, these endorsements failed to reverse Orbán's slide in the polls, culminating in a crushing defeat on Sunday.
Economic and Diplomatic Reset on the Horizon
The election result is widely seen as a game-changer for Hungary's economy and its strained relations with the European Union. Political analysts note that Magyar's expected supermajority represents the most EU- and market-friendly scenario, likely triggering a rally in Hungarian assets.
A fundamental economic plank for the new government is unlocking billions of euros in EU funding that was frozen due to democratic backsliding under Orbán. This includes at least €6.4 billion from the EU's resilience and recovery facility. Magyar has pledged a sweeping anti-corruption drive and reforms to meet EU conditions on judicial independence and public procurement.
"The result is a game-changer and will allow Magyar to govern with a free hand," said Mujtaba Rahman of Eurasia Group. "Most importantly, he will be able to unwind Orbán's autocracy and deliver on all of the reforms the EU is demanding."
Challenges and Market Expectations
Despite the optimism, challenges remain. Credit rating agencies and some EU diplomats express scepticism about the immediate release of funds, noting that promises alone may not suffice. Comparisons to Poland's 2023 election, where funds were released quickly to a new pro-EU government, may be misguided, according to analysts.
"There is no willingness to give out the money only on a promise," cautioned one EU diplomat. "Tisza would need to demonstrate that it can deliver."
Economists highlight that releasing EU funds could help cut Hungary's budget deficit and stabilise its high public debt. "Overall, the election result marks a major turning point for Hungary's economy," said Liam Peach of Capital Economics. "The durability of any positive market reaction will now depend on how quickly Tisza moves to rebuild relations with the EU."
In his first actions, Magyar called on Hungary's chief prosecutor, the head of the top court, and the head of the media authority to resign, accusing these institutions of being captured by Orbán loyalists. He pledged to make Hungary a strong EU and NATO ally, vowing, "We will never again allow anyone to hold free Hungary captive."
