The consequences of the 9 March referendum and the ongoing coalition crisis have sharply raised the vulnerability of the Hungarian currency (

Following the referendum the position of the PM has become unstable, the coalition tensions have risen.Hence the risky moves of the Prime Minister in the last days.

While the results of the referendum is a big defeat of the government, reshuffle is not expected in the next few months, but policy changes will follow.

The referendum on 9th March is exceptional, since democratic countries rarely hold referenda on the abolition of point-of-delivery charges for health care and of university tuition fees.

Ferenc Gyurcsány tried to undermine the last push of Fidesz by announcing potentially popular initiatives, while Fidesz tries to win voters in the political centre.

The parties are trying to present the referendum according to their priorities. Whatever the result, major political shift is not expected in the short term.

Parties are preparing their campaign for the referendum on 9 March. The result will alter the strategies of the government and the opposition as well.

The Political Risk of Hungary and the region has increased in the previous months because of the actions of the Hungarian Guard (Magyar Gárda).

Lesz-e Orbán Viktor utáni Fidesz? A kérdés talán így is feltehető: Orbán Viktorral lesz-e Fidesz? És ha nem vele, akkor kivel? Lesz-e Gyurcsány nélkül MSZP? Vagy MSZP nélkül Gyurcsány? Látjuk-e a két, saját oldalukat vezető sztárpolitikuson túl a többieket? Egyre több, tehetségesnek tűnő jelentkezőt

Ferenc Gyurcsány’s position as the head of the government and MSZP has improved. SZDSZ has also strengthened, which could make it a possible ally to FIDESZ in seeking early elections.