Péter Magyar Ends Orbán Era

The stunning defeat of Viktor Orbán marks the end of a 16-year regime that had become a model for illiberal democracy.

Magyar's victory has ignited a rally in Hungary's bond market as investors anticipate a more pro-EU government and the potential adoption of the euro.

European Union officials are already rushing to Budapest to discuss unfreezing €17 billion in funds that were previously withheld due to rule-of-law concerns.

Magyar has signaled a major shift in foreign policy, including a more supportive stance toward Ukraine and a reset of ties with Brussels.