Economic Victory Fails to Deliver

What should have been Hungarian Prime Minister Viktor Orban's finest hour may be becoming his darkest. Investors are turning positive again on Hungarian assets, vindicating Orban after years when the International Monetary Fund, Brussels, and international financiers lined up to warn that he was going to destroy Hungary's economy. He proved them wrong, but at the same time his popularity with voters, which stayed resilient even when the economy spluttered, is ebbing. A survey by Ipsos last month put Orban's Fidesz party on 21 percent, still the poll leader, but with the far-right party Jobbik at 18 percent, its highest ever score. In a by-election last weekend, Jobbik won a parliamentary seat previously held by Fidesz.