Hungarians handed Prime Minister Viktor Orbán a resounding defeat in Sunday’s parliamentary elections. Peter Magyar and his upstart Tisza won the election by a landslide on the promise of ending years of corruption and the ‘illiberal democracy’ that became synonymous with Orbán’s tenure.

On today’s Big Take podcast, former US Ambassador David Pressman sits down with Sarah Holder to discuss what Orbán’s loss means for Hungary’s economy and political institutions, how a new leader could reshape its relationships with the EU and Russia and why President Trump and the MAGA movement are paying close attention.

Read more: Hungarian Stocks and Forint Jump as Orban Loss Starts New Era

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Hosted by Sarah Holder; Produced by Eleanor Harrison-Dengate and Rachael Lewis-Krisky; Reported by Andras Gergely; Edited by Jeffrey Grocott.

Fact-checking by David Fox and Laura Newcombe; Engineering by Alex Sugiura.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

Hungarians handed Prime Minister Viktor Orb&aacute;n a resounding defeat in Sunday&rsquo;s parliamentary elections. Peter Magyar and his upstart Tisza won the election by a landslide on the promise of ending years of corruption and the &lsquo;illiberal democracy&rsquo; that became synonymous with Orb&aacute;n&rsquo;s tenure.
On today&rsquo;s Big Take podcast, former US Ambassador David Pressman sits down with Sarah Holder to discuss what Orb&aacute;n&rsquo;s loss means for Hungary&rsquo;s economy and political institutions, how a new leader could reshape its relationships with the EU and Russia and why President Trump and the MAGA movement are paying close attention.
Read more: <a href="https://www.bloomberg.com/news/articles/2026-04-12/forint-jumps-to-three-year-high-as-hungary-s-orban-is-voted-out">Hungarian Stocks and Forint Jump as Orban Loss Starts New Era</a>
We have a special Bloomberg subscription offer for podcast listeners at&nbsp;<a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>
Hosted by Sarah Holder; Produced by Eleanor Harrison-Dengate and Rachael Lewis-Krisky; Reported by Andras Gergely; Edited by Jeffrey Grocott.
Fact-checking by David Fox and Laura Newcombe; Engineering by Alex Sugiura.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

Big Take

What Orbán’s Loss Means for Hungary, Russia and Trump

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/0995e488-3b71-4ad6-8cda-b42b016417e5/transcript