Hungary’s ruling Fidesz-KDNP coalition introduced a new draft law on Friday in Budapest, aiming to tighten financial transparency requirements for Members of the European Parliament (MEPs). If passed, the legislation would compel all Hungarian MEPs to publicly disclose their personal financial assets, aligning them with national lawmakers’ requirements.
Additionally, the draft grants Hungary’s National Electoral Office (NEO) the authority to revoke an MEP’s mandate if they fail to comply with the new rules. In such a case, the NEO’s president would formally notify the European Parliament president about the termination of the mandate.
Opposition Leader Péter Magyar Claims Law Targets Him
Péter Magyar, leader of the Tisza Party, has accused Prime Minister Viktor Orbán of using the proposed law as a political tool to remove him from office. Magyar, a prominent opposition figure, claims the government is orchestrating a strategy to undermine his position and discredit him.
Recent polls indicate that the Tisza Party currently leads Fidesz by 9%, a significant margin ahead of next year’s general election. Analysts suggest the timing of the new legislation coincides with Magyar’s growing popularity, intensifying political tensions between the opposition and the ruling party.
Analysts Point to Political Motives Behind the Law
Political commentator Szabolcs Dull argues that the law’s selective focus on MEPs, rather than applying similar measures to national lawmakers, signals an intentional move against Magyar. Dull also noted that ongoing insider trading investigations involving Magyar reinforce suspicions that the legislation was designed to damage his credibility.
“They want to keep the idea of scandal alive around Magyar’s wealth,” Dull wrote in a weekly political newsletter, emphasizing that the law may be more about political optics than legal enforcement.
Hungary’s government closely monitors Orbán’s approval ratings, and the increasing support for Magyar has reportedly raised concerns within Fidesz.
When asked for comment, Fidesz did not respond to accusations that the law is politically motivated.
Legal Experts Question the Law’s Validity Under EU Rules
Legal experts warn that the proposed law could face significant challenges at the European level. EU law expert Tamás Lattmann stated that no MEP has ever lost their mandate due to national legislation in the history of the European Union.
Lattmann explained that EU law takes precedence over national decisions and that the European Parliament could disregard any unilateral revocation of an MEP’s mandate. If challenged, the dispute would likely escalate to the European Court of Justice, leading to a lengthy legal battle.
A European Parliament spokesperson declined to comment on the proposed legislation, noting that it remains in draft form.
Magyar Publicly Challenges Orbán Amid Financial Scrutiny
In February, prosecutors launched an investigation into a 2013 stock sale involving Magyar and Opus shares, linked to businessman Lőrinc Mészáros. Reports suggest that Magyar profited significantly before Mészáros initiated a buyback campaign that drove up the stock’s value.
Magyar has denied all allegations, stating that banking records contradict the accusations and labeling them as politically motivated fabrications.
Over the weekend, Magyar took to Facebook to issue a direct challenge to Orbán, pledging full financial transparency while inviting the Prime Minister to do the same.
“I’ll publish my finances and my family’s. You can follow me. Let’s pull our pants down together. Deal?” he wrote.
Magyar also mocked reports of Orbán’s luxurious lifestyle, referencing allegations of a private zoo and expensive estate landscaping worth €75,000.
A government spokesperson dismissed these claims, calling them “beneath humour” and refusing to engage further.