Thousands of people demonstrated on Saturday for the fifth day in a row in Budapest, the capital of Hungary, in protest against tax reform and austerity measures by the government of conservative Prime Minister Viktor Orban. The mass demonstrations, the first since Mr Orban was re-elected in April, began on Tuesday after parliament adopted reforms […]
Tag: Hungary
Hungarians are protesting the implementation of Orbán’s measures
Hungarians have been staging daily protests as a falling currency and Russia’s threat to cut off gas shipments to Europe force Prime Minister Viktor Orban to adopt unpopular austerity measures, according to Bloomberg. Protesters occupied a bridge in Budapest late Friday and another demonstration was planned in the capital tonight. Protesters have blocked bridges every […]
The Commission refers Hungary to the Court of Justice of the EU, due to a violation of the rights of LGBTI people
The European Commission decided today to refer Hungary to the Court of Justice of the EU, due to a violation of LGBTI rights. Due to Hungarian legislation discriminating against persons on the basis of their sexual orientation and gender identity, the Commission decided to refer Hungary to the Court of Justice of the EU. The […]
B. Orban: Europe ‘shot itself in the lungs’ with sanctions on Russia
The EU has “shot itself in the lungs” with ill-conceived economic sanctions against Russia which, if not withdrawn, risk destroying the European economy, Hungarian Prime Minister Viktor Orbán said today. Natural gas supplies to Europe have been tight and fuel costs have soared following Russia’s invasion of Ukraine in February and subsequent sanctions. The energy […]
Hungary: Protesters block Budapest bridge in anti-Orban protests
Hundreds of protesters blocked a Budapest bridge on Thursday, protesting for a third day in a row against reforms by Prime Minister Viktor Orban’s government. These are the first mass demonstrations since the re-election of the conservative prime minister in April. Mr Orban’s party “proved in 100 days that everything he promised was a lie”, […]
Hungary: Protesters block bridge in central Budapest against planned tax hike
Around 1,000 protesters blocked a bridge in central Budapest today as Parliament debated a proposal by Prime Minister Viktor Orban’s government that would raise the tax rate for hundreds of thousands of small businesses. Protesters first gathered in a central square outside the Parliament before marching to a nearby Danube bridge, blocking traffic in both […]
Hungary: Raises’s one-week deposit rate by 0.5% to 7.75%
The central bank of Hungary raised its one-week deposit rate by 50 basis points to 7.75% as it upgraded its estimates for tax-adjusted inflation, the preferred measure of persistent price trends, to an impressive 13 % -14% this year. The country’s central bank raised its key interest rate by 185 basis points to 7.75% on […]
France: The EU will adopt the minimum corporate tax in the coming months
EU countries will adopt plans for the minimum corporate tax in the bloc in the coming months, regardless of whether Hungary supports the reform, French Finance Minister Bruno Le Mer said today, as reported by Reuters. Hungary objected at the last minute earlier this month to the European Union adopting a minimum corporate tax rate […]
Hungary: Unexpected increase in the key interest rate by 185 bp to 7.75%
Hungary’s central bank raised its key interest rate by 185 basis points to 7.75%, stepping up the rate as the forint fell to a record low this week as inflation soared. The forint, which fell to a new low of 404.5 against the euro, stood at 397.75 against the euro. Average estimates spoke of a […]
Ukraine: No more EU sanctions on Russia
The European Union (EU) should not impose additional sanctions on Russia over its military intervention in Ukraine, instead it should press for a ceasefire and start negotiations, an aide to Prime Minister Victor Orban said on Thursday. On the sidelines of the EU summit, which decided to grant Ukraine candidate status, the Hungarian official noted […]