Hungary hoping to benefit from Brexit

The Hungarian government is hoping to lure several important European Union institutions and large Western organizations from London to Hungary due to the fallout from Brexit, claims Hungary Minister of National Economy Mihály Varga.

Varga told Magyar Idők that Hungary has already submitted an application to host the EU’s bank supervising authority, and intends to compete for the Union’s pharmaceutical authority as well.

“There are a number of EU bodies with headquarters currently in London, and these authorities will certainly relocate to other countries,” stated Varga, noting that it would increase Hungary’s role and influence within the EU if one or more of them found a new home in Budapest.

Orbán to meet UK’s Prime Minister May next week

Buzzfeed is reporting that Hungarian Prime Minister Viktor Orbán will be in London next week to meet his counterpart in the UK, Theresa May, after the latter returns from a trip to India.

“Orbán’s visit will fuel accusations from a number of EU and European officials that Britain is building an alliance with Hungary’s right-wing leader in an attempt to divide and conquer the EU in Brexit negotiations.

He is viewed as a controversial ally for Britain because of his government’s stance on refugees, an alleged crackdown on freedom of speech, and tensions with other governments and the EU over the balance of powers between Europe’s institutions and its member states,” the site writes.

Buzzfeed also notes that Mr. Orbán was one of the few leaders to praise Prime Minister May at an EU Council Summit in Brussels last month.

Hungarian Politics podcast – László Andor, Katalin Halmai on Brexit

In this week’s Hungarian Politics podcast, we have a look at the so-called Brexit vote, the United Kingdom’s referendum on leaving the European Union, and examine its possible effects on Hungary.

Katalin Halmai photo
Katalin Halmai, Brussels correspondent for Népszabadság

We have two excellent guests this week with extensive knowledge of the European Union and are able to break down this topic for us, although we spoke with both of them before Thursday’s historic vote.

Our first guest is Katalin Halmai, the Brussels correspondent for Hungarian daily Népszabadság. Halmai tells about the unusual advertisement taken out by the Hungarian government about the Brexit vote and what its purpose might have been, and also discusses some of the implications of the UK’s departure from the EU on Hungary.

László Andor photo
László Andor, former EU Commissioner from Hungary

We then speak with László Andor, who was EU Commissioner from Hungary between 2010-2014, and is now the head of the Department of Economic Policy at the Corvinus University of Budapest.

Prof. Andor gives us added insight into the likely repercussions of Britain exiting the European Union. We examine how this is likely to affect Hungarians living, working and studying in the UK, as well as the lasting economic impact on Hungary.

In addition, make sure you read this fascinating speech that Andor delivered in York, England just last week on “The Economic and Social Consequences of Brexit.”

You can follow Katalin Halmai on Twitter @eublogo, and László Andor on Twitter @LaszloAndorEU

And why not follow us as well on Twitter? We’re at @nelsonstevend Also, if you enjoy the show, please leave a review on iTunes.

You can listen to the show in the player at the top of this post, or download the file to your local drive. Thanks for listening!