When countries such as Hungary take an anti-democratic, anti-liberal turn, inevitably it is the Jews who feel the heat first.
In yet another example of how nationalist sentiments and patriotism trump common sense, Hungarians went to the polls on April 6 and reelected Prime Minister Victor Orban and his ultra-conservative Fidesz party. One in five voters also backed Jobbik, a far-right party that sees itself as the ideological heir to the pro-Nazi Arrow Cross party that existed from 1935 to 1945.
Investment bankers and economists said the election results would hurt Hungary’s economy. The Goldman Sachs investment bank said Orban’s reelection means “unpredictable” economic policies are likely to hinder growth.
An analyst at MKB Bank Zrt., a unit of Bayerische Landesbank, told Bloomberg that “Fidesz won’t really have an incentive to change its economic policy after this victory. And unless it does, there won’t be much of a sustained gain in the Hungary currency or in government bonds.” [...]
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