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[1/5] Pope Francis greets the crowd ahead of a holy mass at the Kossuth Lajos Square during his apostolic journey in Budapest, Hungary, April 30, 2023. Francis believes migrants fleeing poverty should be welcomed and integrated because they can culturally enrich host countries and boost Europe's dwindling populations. He believes that while countries have a right to protect their borders, migrants should be distributed throughout the European Union. In his homily, Francis also spoke against doors "closed to the world". On Friday, he quoted what St Stephen, the 11th century founder of Christian Hungary, had written about welcoming strangers.

☆ ECB says Hungary government decree has impaired central bank independence
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

BUDAPEST, April 26 (Reuters) - Hungary's government has infringed the National Bank of Hungary's (NBH) independence with a decree restricting access to the bank's discount bill and by extending a cap on large commercial bank deposits until end-June, the European Central Bank said on Wednesday. Hungary's government last month extended a cap on large commercial bank deposits until the end of June and imposed restrictions on the transfer of central bank discount bills to curb "unjust" income earned on central bank facilities. "The decree, including the interest rate cap, interferes with the independence of the (NBH), since it impedes the (NBH) from independently choosing the necessary means and instruments to conduct an efficient monetary policy," the ECB said. "Therefore, the decree infringes the independence of the (NBH) under Article 130 of the Treaty." Prime Minister Viktor Orban's government announced a cap on large commercial bank deposits after the NBH launched a quick deposit facility with an 18% interest rate last October to stem falls in the forint.

☆ Hungary quit Russian bank as U.S. sanctions 'ruined' it, PM Orban says as relations worsen
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +3 min

BUDAPEST, April 14 (Reuters) - Hungary abandoned a Budapest-based Russian bank this week because U.S. sanctions had "ruined" it, Prime Minister Viktor Orban said on Friday, adding that Hungary would comply with sanctions on Russia but continue to speak out against them. Russia is its largest shareholder, while Hungary was second-largest and senior Hungarian officials had held roles there including board seats. This week, the United States imposed new sanctions on the bank, including on three of its top officials, two Russians and Hungarian. Orban said Hungary would comply with sanctions against Russia, even though it did not support them. "We have never agreed with sanctions but we don't dispute others' rights, including the United States, to impose sanctions," he said.

☆ Sweden-Hungary ties at low point, Orban aide says, amid Stockholm NATO bid
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +2 min

Welcoming Finland's entry, U.S. President Joe Biden has urged Turkey and Hungary to conclude their ratification processes for Sweden to join the alliance "without delay". Orban's chief of staff, Gergely Gulyas, reiterated ruling party concerns over Sweden's NATO bid, which he said were also shared by Orban's government. "In such a situation, NATO's unity is of paramount importance and it is not helpful if we import bilateral debates into NATO." Hungary's ratification process has been stranded in parliament since July, with Orban airing concerns about the Nordic countries' NATO membership for the first time in February. Among other criticisms, Orban has accused both countries of spreading "outright lies" about the health of democracy in Hungary.

HELSINKI/BRUSSELS, April 4 (Reuters) - Finland will become a member of NATO on Tuesday, completing a historic security policy shift triggered by Russia's invasion of Ukraine, while neighbour Sweden is kept in the waiting room. "It will be a good day for Finland's security, for Nordic security and for NATO as a whole," NATO Secretary-General Jens Stoltenberg told reporters on Monday. Sweden underwent a similar transformation in defence thinking and Stockholm and Helsinki applied together last year to join NATO. Moscow said on Monday it would strengthen its military capacity in its western and northwestern regions in response to Finland joining NATO. Stoltenberg said he was "absolutely confident" that Sweden will become a NATO member.

"Tomorrow we will welcome Finland as the 31st member of NATO making Finland safer and our alliance stronger," NATO Secretary-General Jens Stoltenberg told reporters in Brussels, hailing the move as "historic". Russia's invasion of Ukraine in February last year pushed Finland and its neighbour Sweden to apply for NATO membership, abandoning decades of military non-alignment. [1/2] NATO Secretary-General Jens Stoltenberg attends a news conference before a meeting of NATO foreign ministers in Brussels, Belgium April 3, 2023. REUTERS/Johanna Geron 1 2"President Putin went to war against Ukraine with the clear aim to get less NATO," Stoltenberg said. Stoltenberg pledged to work hard to get Sweden into NATO as soon as possible.

☆ Factbox: Steps in Finnish, Swedish path to NATO membership
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +5 min

Hungary's parliament approved a bill this week to allow Finland to join NATO after Erdogan declared Turkey was ready to approve that bid. Turkey's parliament is expected to follow through on Erdogan's commitment with a vote this week, clearing the way for Finland to join NATO within weeks. Here are the key steps in Finland's and Sweden's path towards NATO membership so far:FINLAND AND SWEDEN SUBMIT MEMBERSHIP REQUESTThe applications, letters signed by the countries' foreign ministers, were formally handed in by Finland's and Sweden's NATO ambassadors on May 18, 2022. FINLAND FORGES AHEADAll NATO countries must ratify a would-be member's application before it can join the alliance. But NATO Secretary-General Jens Stoltenberg has said getting Sweden's application over the line is a top priority.

☆ Sweden less sure it will join NATO by July - TT
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +1 min

STOCKHOLM, March 30 (Reuters) - Sweden's foreign minister said on Thursday he was no longer sure his country would be able to join NATO by July, after fresh signs of objections from Hungary. Sweden applied to join the military alliance after Russia's invasion of Ukraine last year, but Hungary and fellow NATO member Turkey held off from approving the bid. Foreign Minister Tobias Billstrom said last week that "it goes without saying" Sweden would become a member by the time of a NATO summit in Vilnius in July. Finland applied to join NATO at the same time as Sweden. Its NATO membership was approved by the Hungarian parliament on Monday and is expected to be ratified by Turkey soon.

☆ Hungarian government official argues Sweden isn't nice enough to his country to get approval to join NATO
▼ + stars: | 2023-03-29 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Hungary is one of two countries yet to approve Sweden's bid to join NATO. Sweden — alongside neighboring Finland — requested to join NATO after Russia invaded Ukraine over a year ago, but it still needs Hungary's approval to do so. "With Finland's admission into NATO now secure, Sweden must face the music regarding its daunting attitude and former derogatory comments toward Hungary," Kovács wrote. Photo by JONATHAN NACKSTRAND/AFP via Getty ImagesKovács wrote that another reason for the hold up on Sweden's NATO bid is Stockholm's "crumbling throne of moral superiority" and a "lack of care and respect." Sweden and Finland — both of which have historically been militarily nonaligned — applied to join NATO in May 2022 and were invited to join the military alliance the following month.

☆ Hungary says 'grievances' hold up ratification of Sweden's NATO accession
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

BUDAPEST, March 29 (Reuters) - Hungary is holding up Sweden's admission to NATO because of grievances over criticism by Stockholm of Prime Minister Viktor Orban's policies, the Hungarian government spokesman said on Wednesday. Bridging the gap will require effort on both sides, spokesman Zoltan Kovacs said. Sweden and its neighbour Finland asked to join the NATO military alliance last year following Russia's invasion of Ukraine. Turkish President Tayyip Erdogan said last week that Turkey's parliament would also start ratifying Finland's accession. But it held off approving Sweden's bid, accusing it of harbouring Kurdish militants.

☆ Hungary parliament backs Finland's NATO accession, Swedish bid pending
▼ + stars: | 2023-03-27 | by ( Krisztina Than | ) www.reuters.com time to read: +2 min

[1/3] Hungarian Prime Minister Viktor Orban and Deputy Prime Minister Zsolt Semjen attend the voting of the ratification of Finland's NATO membership in Budapest, Hungary, March 27, 2023. Although Finland's bid has now been approved, the Swedish bill is still stranded in the Hungarian parliament. The bill on Finland's NATO accession was passed with 182 in favour and six votes against, after Fidesz said last week it would back the motion. Turkish President Tayyip Erdogan said last week that Turkey's parliament would also start ratifying Finland's accession. Prime Minister Viktor Orban's chief political aide said on Twitter on Sunday the government backed Sweden's NATO membership and "now it's up to the parliament to make a decision."

Summary Wedding boom, fuelled by government handouts, fizzlesSurging inflation boosts wedding costs, devalues benefitsSome couples scaling back or even scrapping wedding feastsJanuary weddings fall to lowest since January 2014BUDAPEST, March 27 (Reuters) - Soaring inflation is taking the steam out of Hungary's wedding market, supercharged in recent years by Prime Minister Viktor Orban's lavish family support measures, with the number of weddings plunging to a nine-year-low at the start of 2023. In January the number of weddings recorded in Hungary fell to 1,230, preliminary data showed - the lowest number since January 2014. "We did not think that this wedding boom would be so strong and prolonged, but it will now probably return to equilibrium." Mihaly Toth, a master of wedding ceremonies, says the number of couples planning to tie the knot is likely to fall from last year's levels. "We will just have a small family get-together and then go out with some friends for the night," Szabo said.

☆ Hungary would not arrest Putin, says PM Orban's chief of staff
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +2 min

BUDAPEST, March 23 (Reuters) - Hungary would not arrest Russian President Vladimir Putin if he entered the country, Prime Minister Viktor Orban's chief of staff said on Thursday, adding that it would have no legal grounds. Hungary signed and ratified the Rome Statute that created the International Criminal Court (ICC), which issued an arrest warrant on Friday accusing Putin of the war crime of illegally deporting hundreds of children from Ukraine. When asked if Putin would be arrested if he came to Hungary, Orban's chief of staff, Gergely Gulyas, told a briefing that the Rome Statute had not been built into the Hungarian legal system. When asked, he said his government "had not formed a stance" on the arrest warrant issued against Putin. Putin, only the third serving president to have been issued an arrest warrant by the ICC, is unlikely to end up in court any time soon.

☆ NATO ally Hungary throws Putin a lifeline, saying it won't arrest him despite ICC warrant tied to Ukraine war
▼ + stars: | 2023-03-23 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +3 min

Hungary signaled it would not arrest Putin if he visited even though the ICC issued an arrest warrant. Hungary is an ICC member, but said that under Hungarian law it can't arrest Putin. "The ICC's statute has not been promulgated in Hungary," Gulyas said, adding that his government hasn't yet formed a stance on the arrest warrant for Putin. States Parties to the Rome Statute have a legal obligation to cooperate fully with the ICC," according to the ICC. Though the US is not an ICC member and does not recognize the court's jurisdiction, President Joe Biden said the arrest warrant for Putin was "justified."

☆ Hungary ruling party seeks new delay in Nordic NATO ratifications
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +2 min

BUDAPEST, March 14 (Reuters) - Hungary's ruling party lawmakers want to postpone next week's parliament session, which means a further delay in its ratification of Finland and Sweden's NATO admission. The ruling Fidesz party confirmed to Reuters that parliament would not hold a session next week, which they said was due to a "delay in negotiations with Brussels." Hungary is mired in a dispute with the European Commission over the release of EU funds. Sweden and Finland applied last year for membership of the transatlantic military alliance after Russian forces invaded Ukraine. All 30 NATO members must ratify the applications, and Hungary and Turkey have held back their approvals.

☆ Hungary vows to fight in EU court to defend anti-LGBT law
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +2 min

BUDAPEST, March 9 (Reuters) - Hungary's Justice Minister said late on Wednesday that Budapest would fight in the Court of Justice of the EU to defend an education law that Brussels says discriminates against people on the basis of sexual orientation and gender identity. The government has said the law aimed to protect children, not target the LGBT community. "Just as we have done so far, we will go to the wall if it's about protecting our children," Varga said, adding that uphold the legislation was necessary and further measures would be taken. The European Commission referred Hungary to the Court of Justice of the EU over the anti-LGBT law in mid-2022. The commission has said it considers that the law violates the EU's internal market rules, the fundamental rights of individuals and EU values.

☆ Hungary signals fresh delay in Finland, Sweden NATO approval
▼ + stars: | 2023-02-25 | by ( ) www.reuters.com time to read: +2 min

Sweden and Finland applied last year to join the transatlantic defence pact after Russia's full-scale invasion of Ukraine. But all 30 NATO members need to back the applications and Sweden has faced objections from Turkey for harbouring what Ankara considers to be members of terrorist groups. With Hungary's ratification process stranded in parliament since July, Orban aired concerns about Sweden and Finland's NATO membership for the first time on Friday. A legislative agenda published on parliament's website this week showed a final vote on the NATO bids could take place in the week of March 6. "Parliament will put this on the agenda on Monday and start debating the legislation next week," Gulyas told a news conference.

☆ Hungary cbank could start "cautious" rate cuts once CPI slows - minister
▼ + stars: | 2023-01-29 | by ( ) www.reuters.com time to read: +2 min

Marton Nagy, a former central bank deputy governor, told state radio that the "very high" interest rates made the government's job difficult and harmed the economy. Prime Minister Viktor Orban's government is trying to avoid economic recession at a time when inflation is still running well above 20%. The central bank declined to comment in an emailed response to Reuters on similar remarks made by Nagy in a weekly newspaper on Thursday. On Tuesday, the central bank left its base rate at 13% and said it would keep its one-day deposit rate at 18% until it sees "a trend improvement" in risk assessment. He also said Hungary's economic fundamentals were improving, and energy prices have dropped.

☆ 'Fast-track' talks are underway between Ukraine and Western allies for missiles and planes
▼ + stars: | 2023-01-28 | by ( ) www.cnbc.com time to read: +6 min

Ukraine and its Western allies are engaged in "fast-track" talks on the possibility of equipping the invaded country with long-range missiles and military aircraft, a top Ukrainian presidential aide said Saturday. Orban has refused to send weapons to neighboring Ukraine and sought to block EU funds earmarked for military aid. Amid news of the coordinated effort, Russia bombarded Ukraine with missiles, exploding drones and artillery shells. The attacks continued Saturday when Russian missiles struck the city of Kostyantynivka in eastern Ukraine's Donetsk province. In a separate Telegram post earlier Saturday, Kyrylenko reported that Russian attacks in the province killed four civilians in all and wounded seven others in 24 hours.

☆ Hungary's Richter expects to pay $74.44 million in windfall taxes in 2022
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +1 min

Companies Richter Gedeon Vegyeszeti Gyar Nyrt FollowBUDAPEST, Dec 27 (Reuters) - Hungarian drugmaker Richter expects (GDRB.BU) to pay about 28 billion forints ($74.44 million) worth of extra taxes this year, it said on Tuesday, hit by tax hikes on big businesses to plug budget holes. Prime Minister Viktor Orban's government announced on Friday that a windfall tax imposed on drug producers based on net revenues in 2022 and 2023 would increase progressively, rising to 8% on net revenues exceeding 150 billion forints ($398 million). The 2022 tax take represents some 14% of Richter's nine-month net profit, which more than doubled from the same period a year earlier, boosted by favourable exchange rate effects. "The tax is expected to be accounted under Other expenses thus will proportionally lower the Company's operating profit and free cash-flow for 2022," Richter said in a statement. "Other elements of financial targets set for 2022 and released in the public domain are kept unchanged."

☆ Hungary government raises the capital of state-owned energy company
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +1 min

BUDAPEST, Dec 23 (Reuters) - The government of Hungary decided to raise the capital of state-owned energy company MVM Zrt by 41 billion forint ($108.79 million) to 849.4 billion forints, the company said on Friday in a statement on the stock exchange's website. Hungary is highly dependent on Russian oil and gas imports, and soaring energy prices caused the budget and current account deficit to balloon this year, posing a challenge to Prime Minister Viktor Orban's government. Hungary will likely have to pay 17 to 20 billion euros for its energy bill next year, Orban said on Wednesday, adding that his government would raise the necessary financing in the market. The deal allows MVM to pay for the gas over the coming three years if prices surge. High energy prices also forced the government to end a decade-long policy and scrap an energy price cap for high-usage households from August.

☆ EU wrangles with Hungary over Ukraine aid, tax plan as billions at risk
▼ + stars: | 2022-12-12 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +4 min

As the wrangling has gone on, Hungary also blocked the 18 billion euros joint EU loan to Ukraine and the tax plan, drawing ire from other countries for what they said was an attempt to blackmail the bloc into releasing the funds to Budapest. Hungary says it opposes joint EU borrowing to support Ukraine but that it would extend bilateral aid to Kyiv instead. Budapest has also said the OECD plan for a minimum corporate tax is against Hungary's national interests. Other EU countries are divided between those willing to punish Hungary more harshly and those saying the amounts frozen would be lessened if Hungary moved on Ukraine and OECD. The rest depends on Hungary, it's their money," said one EU diplomat.

[1/2] Drivers wait for fuel at a gas station of Hungarian oil company MOL Group in Budapest, Hungary, December 5, 2022. MOL, Hungary's main oil and gas group, has said the price cap was unsustainable as major players stopped importing fuel due to low prices, aggravating the shortage. "In the past days, the oil sanctions of Brussels took effect and what we had been afraid of, has actually happened. From now on there are sanctions prices on petrol across entire Europe," Orban said on Facebook, adding the government will "take away the extra profits generated by this" and redirect them to the state budget. At 1218 GMT, its shares traded 1.8% lower, reversing earlier gains of around 3% after the fuel price cap was ditched overnight.

☆ Hungarian government scraps price cap on fuels as shortage worsens
▼ + stars: | 2022-12-06 | by ( Krisztina Than | ) www.reuters.com time to read: +2 min

Prime Minister Viktor Orban's chief of staff told a briefing late Tuesday the government had to abolish the price cap, which was introduced a year ago, at MOL's recommendation immediately. The price cap was set to expire at the end of December. Gulyas said the ending of the price cap will boost inflation but did not give an estimate. In July, the government had to narrow the scope of eligibility, and since then the fuel price cap has applied to drivers of privately owned vehicles, farm vehicles and taxis. But the scrapping of the price cap would help alleviate the shortage on the market within a few days, he said.

At an EU economics and finance ministers' meeting in Brussels, Hungarian minister Mihaly Varga confirmed his government's opposition to supporting Ukraine with the loan. Hungary has said it would not take part in joint EU borrowing for Ukraine, though Budapest has said it would provide bilateral assistance. But this is not how Hungary's decision to block the EU loan has been received by all. Locked in a tug-of-war with Hungary, the ministers decided to take off their agenda on Tuesday any decision about 7.5 billion euros in EU funds earmarked for Hungary, according to EU officials. International watchdogs say he has channelled EU funds to his inner circle over the years, entrenching himself in power.

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