The Hungarian government did not respond to questions about the prime minister’s rhetoric. “This is the great historic battle that we are fighting,” he said, pointing to “demography, migration and gender.” And he urged the EU not to take sides between Ukraine and Russia, underscoring his position on the EU’s fringes.īut his grander message was one of identity. But it can’t directly take similar steps over the political speech of national leaders.ĭuring Orbán’s speech, the prime minister also claimed the war in Ukraine “would never have broken out” if Donald Trump and Angela Merkel were still in office. And it can, theoretically, slash regular budget payments to rule-of-law truants - as it is currently threatening to do with Hungary. The EU can take countries to court over specific local laws - a long and winding process. The currency’s depreciation, she said, is “partly the result of the very loose monetary and fiscal policy before the crisis.” “Hungarian monetary policy is not independent and not credible,” said Júlia Király, a professor who served as deputy governor of Hungary’s central bank from 2007 until 2013. The crumbling performance has turned attention to Orbán’s financial steerage. Meanwhile, the country’s currency, the forint, is the worst performer in the region. Inflation stands at a nearly 24-year high, hitting 11.7 percent in June compared to last year. Hungary’s economy is in bad shape - and many Hungarians are growing visibly worried as prices surge. “A government with a two-thirds majority,” Orbán pointedly reminded people last weekend, “cannot be toppled.” An economy teeters And while Brussels could withhold some funds from Hungary over legal concerns, European policymakers want to keep the Western camp together as Russia’s war rages in Ukraine. For Orbán, the tactic is a calculated gamble.ĭespite concerns about Hungary’s economy and democracy, Orbán remains in a relatively comfortable political position, having just won reelection and controlling much of the local media landscape.
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