Hungary’s ruling Fidesz-KDNP coalition introduced a controversial draft law on Friday aimed at tightening financial disclosure rules for Hungarian Members of the European Parliament (MEPs). The proposal requires MEPs to declare their financial assets, aligning with the rules already in place for national lawmakers. However, a contentious clause allowing for the revocation of mandates for those who fail to comply has raised concerns, especially from opposition figures. Péter Magyar, leader of the Tisza Party, has accused the government of targeting him personally, fueling political tensions as elections loom.
New Law Sets Financial Disclosure Requirements
The draft law mandates that all Hungarian MEPs must publicly disclose their financial assets, similar to the disclosure rules for national lawmakers. While the bill seeks to enhance transparency, the inclusion of a revocation clause has sparked significant backlash. According to this clause, if MEPs fail to comply with the disclosure requirements, the National Electoral Office (NEO) would notify the European Parliament, leading to the potential termination of their mandate. The proposal has ignited a heated debate over its implications for political freedom and transparency.
Opposition Leader Claims Law Targets Him
Péter Magyar, founder of the Tisza Party, has openly criticized the law, claiming it is an attempt by the ruling government to remove him from politics ahead of Hungary’s 2026 elections. In a fiery post on Facebook, Magyar accused Prime Minister Viktor Orbán of orchestrating the law to undermine his rising political influence. “I hear you’re nervous and sent your jesters to find a miracle weapon to stop me,” Magyar wrote. His party, Tisza, has gained significant popularity, leading by 9% in recent polls, which poses a serious challenge to Fidesz’s long-standing dominance in Hungarian politics.
Political Analyst Suggests Law Targets Magyar
Political analyst Szabolcs Dull has weighed in on the controversy, arguing that both the timing and the specifics of the new law suggest that Magyar is the primary target. Dull pointed out that the revocation clause only applies to MEPs, not to members of Hungary’s national parliament, highlighting that Magyar’s growing influence in the European Parliament is likely a factor. The analyst also referenced ongoing accusations of insider trading against Magyar, which have fueled suspicions that the law was strategically designed to weaken his public image, rather than to remove him from office.
Magyar Denies Insider Trading Allegations
In February, Hungarian prosecutors launched an investigation into a 2013 stock transaction involving Magyar and Opus, a company linked to Hungarian oligarch Lőrinc Mészáros. Allegations suggest that Magyar sold shares just before a buyback announcement, possibly earning millions of forints in the process. However, Magyar has strongly denied the allegations, calling them unfounded and claiming that his banking records disprove the accusations. He has maintained that the charges are politically motivated and aimed at tarnishing his reputation.
Legal Experts Question the Law’s Legality
The legality of the proposed law has been called into question by legal experts. Tamás Lattmann, an EU law specialist, has argued that the draft law violates European Union legal principles. Lattmann explained that national authorities do not have the power to revoke MEP mandates, as those are governed by European law. Even if the NEO attempts to revoke Magyar’s mandate, the European Parliament may refuse to recognize the decision, potentially leading to a prolonged legal battle.
European Parliament Remains Silent
A spokesperson for the European Parliament declined to comment on the proposed legislation, as it is still under discussion in Hungary. However, the European Parliament’s refusal to comment underscores the potential complexity of the situation, especially if the law leads to a legal conflict between Hungarian authorities and EU institutions.
Magyar Responds Defiantly to Orbán
In the face of the law’s controversy, Péter Magyar has continued to challenge Prime Minister Orbán on transparency. In a second Facebook post, he boldly declared that he would disclose his financial assets, as well as those of his relatives, daring Orbán to do the same. “Let’s pull our pants down together, Prime Minister! Is that a deal?” Magyar wrote. He also mocked Orbán for allegedly owning a private zoo and a luxury landscaping project worth €75,000, further fueling the tension between the two.
Government Dismisses Allegations
A government spokesperson dismissed Magyar’s claims, calling them “beneath humour.” However, this response has done little to quell the growing controversy, as the political battle over transparency and power continues to intensify. As Hungary’s 2026 election approaches, the law’s passage and the ongoing feud between Magyar and Orbán will likely play a significant role in shaping the political landscape.
The introduction of Hungary’s new transparency law has sparked a fierce political debate, with opposition figures, particularly Péter Magyar, accusing the government of using it to undermine their influence ahead of the 2026 elections. Legal experts have raised concerns over the law’s potential violations of EU principles, and its controversial provisions could lead to a legal showdown. As the situation unfolds, the tension between Magyar and Orbán will likely become a key issue in Hungary’s upcoming election.
