https://en.wikipedia.org/wiki/Hungarian_Parliament_Building
The Hungarian parliament has enacted a constitutional amendment that permits the removal of President Tamás Sulyok, a move largely driven by Prime Minister Péter Magyar and his Tisza Party. This legislative change follows Magyar’s recent electoral victory, which secured a two-thirds supermajority, enabling significant shifts in Hungary’s political landscape and targeting allies of former Prime Minister Viktor Orbán. The amendment bypasses the traditional impeachment process and allows for Sulyok’s removal without the Constitutional Court’s intervention. This development has prompted criticism from international bodies and rights groups, who argue it undermines legal norms and lacks adequate procedural safeguards.
The market reaction to this legislative change has been notable, with the odds of Sulyok being removed as president by July 31 increasing to 87.5%. This marks a significant rise from 82% just 24 hours ago, suggesting market participants view the legislative move as a decisive step towards Sulyok’s ousting. The rapid increase in probability appears consistent with a strong expectation that the political maneuvering will lead to Sulyok’s departure within the stipulated timeframe.
