What Victor Orban’s Election Victory Means for EU Politics and Markets
Orban, a self-styled illiberal democrat, is most apparently an incumbent again winning by a wide margin.
Orban, a self-styled illiberal democrat, is most apparently an incumbent again winning by a wide margin. What’s most upsetting for the West is that Orban is famous for his warm relations with Russian President Vladimir Putin. He buys a lot of oil and gas from Moscow. But so do many other EU countries. It's more the similarity critics see between the two men. Both, they say, are disdainful and dismissive of Brussels, of political opposition, of questioning the media, of the LGBTQ+ community.
Of course Orban is no Putin. Though an election billboard on Hungarian highways, sponsored by opposition parties, suggested as much.
Next to black-and-white photos of the two leaders facing one another, the caption summarised the choice allegedly facing voters: "Hungarian Putin" or Europe.
Numerous populist, nationalist, or right-wing politicians with a penchant for strong man (or woman) politics, have admired Putin over the years – or sought to emulate some of his traits. Think Italy's Matteo Salvini, France's Marine Le Pen, the US's Donald Trump.
But Orban is the leader of an EU and Nato member country, at a time when both are deeply at odds with Moscow over the invasion of Ukraine.
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