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Giorgia Meloni, Italy's first female prime minister, has achieved surprising political stability, becoming the fifth-longest-serving leader in the Italian Republic's history. With her party polling near 30%, she aims to strengthen Italy's role in Europe and align closely with the Trump administration, despite facing challenges in foreign policy, particularly regarding Ukraine and NATO defense spending. Meloni's tenure reflects a shift in Italy's political landscape, as she navigates both populist alliances and her authoritarian tendencies.
Brussels was abuzz over allegations that Huawei bribed MEPs, diverting attention from Viktor Orbán's successful veto on renewing sanctions against Russian entities. In a deal to avoid sanctions expiring, EU ambassadors acquiesced to Orbán's demands, illustrating the ease with which he manipulates the EU. Meanwhile, life expectancy in the EU reached a record 81.4 years in 2023, and Germany's centrist parties agreed on a significant infrastructure and defense spending package.
István Tiborcz, son-in-law of Hungarian Prime Minister Viktor Orbán, is reportedly negotiating to acquire a Russian subsidiary of Raiffeisen Bank International (RBI), which nominally holds a 13.1% stake in the Kazakhstan Stock Exchange (KASE). Despite denials from Tiborcz and OTP Bank regarding their involvement, RBI faces legal restrictions preventing the transfer of its shares due to a court dispute. As of January 2025, Russian Raiffeisen Bank will nominally hold the full 13.1% stake previously owned by the Moscow Exchange, which was sanctioned by the U.S. in June 2024.
Ukraine has faced 1,200 Russian attacks on energy facilities since 2022, with significant damage reported in six regions. Polish PM Tusk urges Europe to bolster defense in light of Trump's presidency, while Russia sees a fleeting chance for negotiations. Meanwhile, Hungary's Orban criticizes Ukraine's gas transit decisions, warning of potential repercussions.
Prime Minister Viktor Orban has threatened to veto the European Union's next long-term budget unless Hungary's frozen funds are released, citing concerns over rule-of-law and corruption. The budget, covering 2028, requires unanimous approval from all 27 member states, and Orban has a history of obstructing joint decisions, although other nations are exploring ways to bypass his objections.
Hungarian Prime Minister Viktor Orban has nominated his finance minister, Mihaly Varga, to lead the National Bank of Hungary starting in March, following the end of Governor Gyorgy Matolcsy’s term. Orban is also expected to consolidate economic policy under a "superministry" by appointing Marton Nagy as finance minister, although this has not been officially confirmed.
The Hungarian forint fell to a two-year low, trading 0.7% lower at around 413.2 per euro, as uncertainty looms over Prime Minister Viktor Orban's upcoming decision on the next central bank governor. In contrast, the Polish zloty and Czech koruna remained stable.
Hungarian Prime Minister Viktor Orban is expected to announce his selections for the central bank governor and a key economic position within days. Finance chief Mihaly Varga is the leading candidate to oversee monetary policy, as indicated by Economy Minister Marton Nagy in a recent interview.
Hungary plans to increase the minimum wage by 40% over the next three years, a move aimed at revitalizing the economy ahead of the 2026 general elections. Prime Minister Viktor Orban's initiative comes as his party lags in polls against opposition leader Peter Magyar, who also advocates for significant wage hikes. Currently, Hungary's minimum wage stands at 266,800 forint ($677), the second-lowest in the EU after Bulgaria.
Viktor Orbán
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meloni's unexpected political stability reshapes italy's future and international relations
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