Wealthiest Hungarian, university professor: Huxit possible, we have 5-10 years

Thomas Peterffy is the 58th wealthiest man in the world. According to him, sooner or later, Hungary will leave the European Union if there is no conservative change in Brussels. University teacher András Hettyey added he did not expect a Huxit in the short term, but in the long run, in 5-10 years, that may become a possible option.

Clashes between the EU’s leadership (the so-called “Brussels bureaucrats”, as the government likes to call them) and the Hungarian government started shortly after PM Viktor Orbán came to power and won a supermajority in 2010. The turning point was the 2015 migration crisis when Orbán and the rest of the European leaders took up an antagonistically different stance concerning illegal migration.

The Hungarian government wanted to keep illegal migrants away from the EU, while Austria, Germany and several other countries welcomed them. Since then, ties have been deteriorating. After the COVID pandemic, Brussels did not give any development or RRF funds to Hungary because of the rule of law, state of media, and jurisdiction concerns. The Hungarian government communicated that the Brussels bureaucrats withheld the money only because they disagreed with the Christian-patriotic views Orbán and his cabinet followed.

The possibility of a Huxit, Hungary’s departure from the European Union, has become an integral part of the Hungarian political discourse.

The West dislikes Orbán’s meetings with Putin and Xi Jinping and believes that Orbán has become a traitor to the EU and NATO. According to Thomas Peterffy, the wealthiest Hungarian who revolutionised trade on the stock exchanges, more people in the West are concerned that when Hungary becomes a net contributor, it will leave the EU.

He told Válasz Online that provided the EU takes the leftist path, a Huxit might become possible. Concerning Hungary’s neutrality in the Russia-EU, Russia-USA conflict, he said that was not too realistic. “In Hungary’s place, I would remain a NATO member” even after a Huxit, he said. Read more about what he told Válasz Online HERE.

Huxit would have a devastating effect now

András Hettyey, a university professor at Hungary’s Ludovika University of Public Service, said in an interview with Szeretlek Magyarország that the Hungary-EU relationship is like a bad marriage. In the short term, that will not lead to a Huxit, but the question will remain. In 5-10 years, the answer might become different.

Josep Borrell, Commission Vice-President in charge of coordinating the external action of the European Union, said a couple days before that nobody forces Hungary to remain an EU member.

Hettyey highlighted that 3/4th of Hungary’s trade happens with the EU. Furthermore, 60-65% of the capital investments in Hungary come from the EU. Therefore, it is Hungary’s interest to remain inside. However, there are multiple political, ideological and cultural differences. Therefore, Hungary will not leave the community in the short term. But in 5-10 years, provided Fidesz and Orbán remain in power, that might become a debatable question. That is because the Western Balkan states will become EU members by then, so Hungary will receive less money.

Following a Huxit, the forint would weaken, investors would not come to Hungary, and there would be border controls again. We wrote HERE that Slovenia introduced border control on the Hungarian border because of the influx of illegal migrants.