https://www.economist.com/europe/2026/05/14/peter-magyar-takes-office-pledging-to-clean-up-hungarys-mess
Hungarian Prime Minister Péter Magyar has proposed a constitutional amendment aimed at removing President Tamás Sulyok. This move comes as part of Magyar’s broader “Purgatory” reform package, which seeks to dismantle the political system established by former leader Viktor Orbán. Sulyok, appointed by Orbán’s Fidesz party in 2024, has been accused by Magyar of being a loyalist to the former leader. The amendment also suggests term limits for parliament members and judges, reflecting Magyar’s intent to reshape Hungary’s political landscape.
The market implications of this development appear significant, as pricing shifts indicate an increased likelihood of Sulyok’s removal. The probability of Sulyok being ousted by July 31 has risen to 71.5%, marking a substantial increase from the previous day’s 61%. This surge in perceived odds reflects market participants’ interpretation of Magyar’s actions as a strong political maneuver to expedite Sulyok’s departure. The reforms proposed by Magyar, backed by the Tisza party’s two-thirds majority in parliament, suggest a favorable environment for passing the amendment.
