New Economy Forum
Hungary Censured as European Showdown Over Populism Takes Shape
- European Parliament urges sanctions procedure against Hungary
- Budapest joins Warsaw in facing EU rule-of-law condemnation
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Hungarian Prime Minister Viktor Orban received an unprecedented European Union censure as a looming showdown over the bloc’s rising nationalism took shape.
Hungarian stocks and the forint weakened after EU lawmakers called for Orban’s government to face possible sanctions for eroding democratic standards. The recommendation now goes to EU governments, which are likely to spare Hungary the most serious sanction of suspending the country’s vote in the bloc as that would require unanimity and Poland has pledged to shield Orban.