Hungary Prime Minister Reelected

Hungarians handed their maverick Prime Minister Viktor Orban another four years in power in a parliamentary election on Sunday, while about one in every five voters backed a far-right opposition party accused of anti-Semitism.

Orban has clashed repeatedly with the European Union and foreign investors over his unorthodox policies, and after Sunday’s win, big businesses were bracing for another term of unpredictable and, for some of them, hostile measures.

But many Hungarians see Orban, a 50-year-old former dissident against Communist rule, as a champion of national interests. They also like the fact that under his government personal income tax and household power bills have fallen.

After 89.2 percent of the ballots were counted, election officials projected Orban’s Fidesz party would win 132 of the 199 seats in parliament – hovering one seat below the two-thirds threshold needed for his party to change the constitution.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza