Orbán quotes from today’s speech

Prime Minister held his regular, annual “State of the Nation” speech  this afternoon.

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The scene of the speech, “Várkert”, was shamefully derelict until Orbán’s government had it renovated it last year

The transcript is not available in English yet but no doubt you may read it soon on Mr. Orbán’s site here.

As usual, the speech took a broad, historic view and it was spiced up with great metaphors and jokes.  First he gave a broad historic overview of Hungary’s last 150 years, the various eras and its struggles to develop the country. After a few remarks on the political and economic situation,  the second half of the speech was about the migrant crisis and its historic context.  Let’s see some memorable quotes from this part in no particular order:

We should never be dragged into anti-Russian,anti-German or anti-Turkish international political manoeuvres.  Politics based on moral superiority, which is often cultivated in the West, doesn’t fit Hungarian interests.

In Western Europe, now  boundaries are blurred between good and bad, women and men, reality and dreams.

There’s no freedom, community or individual success in the face of reality. There’s only political drug addiction, failures, cynicism and self-destruction if you fight  reality. Maybe this is why there are so many high-minded unhappy liberals in Brussels.

If we don’t act now, the tension between Europe and the Muslim world will be out of control, here on our territory.

It’s not migrants who we should be angry at. They are also victims, they do only what their interest is- but Europe does not do that!

Europe has the capacity to protect itself.  Brussels can’t organise this defence and doesn’t even want to.

How is it even possible to let in masses of people without any control? We just don’t get that here in the Visegrád countries.

Europe is Hellas, it’s not Persia; Europe is Rome, it’s not Carthage. Europe is Christianity, it’s not caliphates.

Some of the Western political elites are cosmopolitan but  people are patriots – these elites don’t understand their own people.

Uncontrolled masses are being transferred into Europe – we don’t know who is a terrorist, who is a criminal, an economic migrant or a refugee: this is CRAZY.

Spring is coming. We must help the countries of the Balkans because they are protecting Europe’s borders.

Hungary is a sovereign country, only those may enter our territory who respect our rules and abide our armed forces.

We cannot let Brussels to place itself above the law. They can’t force us to import their mistakes.There won’t be no-go zones, there won’t be riots in Hungary, there won’t be attacks on refugee centres and gangs are not going to harass our wives and daughters.

We don’t believe that Europe will give up its legacy.  Rest assured Hungary won’t make a single step on that road.

UPDATE:  Watch the speech with English subtitles here.
He speaks about the existential danger Hungary and European civilization face  in the second half.

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Plans for the future

Today Prime Minister Viktor Orbán has outlined a ten point action plan  statement of intent for the future… “provided we get a mandate from the Hungarian voters to do these”  Luckily they’ve got a fair chance for that. 🙂

The business conference where PM Orbán spoke

  1. Further increasing the domestic proportion of  Hungary’s public debt financing.
  2. Re-industrialization of Hungary to be continued. A bigger percentage of Hungary’s GDP must come from manufacturing than in the case of  the Czech Republic or even Germany.
  3. Further reorientation in Hungary’s foreign relations. He mentioned Turkey and India as examples which countries Hungary should be more focused on.
  4. Changing the ownership distribution in Hungary’s banking sector so that at least 50% of the banking section should be Hungarian-owned.
  5. 80 percents of agricultural land shall be owned by small and middle-sized farmers.
  6. Creating new innovation centres, with university partnerships.
  7. Further decreasing tax on labour and  shifting taxation on consumption even more.
  8. Economic policies must address Hungary’s demographic crisis and the whole economy must be viewed from this angle.
  9. New energy policy: non-profit energy distribution services. Both household energy bills and industrial energy bills shall be the cheapest in Europe and energy prices should be competitive with the ones in the USA.
  10. Full employment (when there is no cyclical or deficient-demand unemployment)

Ambitious goals indeed… But this guy means it and he’s been delivering on his promises.

Any comments?

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Economic Sentiment Two

The central banks of Turkey, South Africa and India caved in and they increased their base rates after the Turkish Lira, the South African Rand and the Indian Rupee were smoked in the financial markets. Now the Hungarian Forint is under a strong attack, too.

The exchange rate of the Hungarian Forint against the Euro

The big difference to these countries is that Hungary has a massive trade balance surplus.  Besides the budget deficit is under 3 percents and the economic growth is accelerating, the inflation is low (under 1%). The debt-to-GDP ratio is still high (80%) but at least it’s not growing anymore.

In fact the trade balance surplus of Hungary, which in principle should matter most in determining the exchange rate,  in last November has turned out to be more than expected, it was 825 million Euros instead of 804 millions. The surplus was  almost 7 billion Euros in the first 11 months  which is half a billion Euros more than it was in the first 11 months of the previous year. That’s big for a country like Hungary. So what’s cooking?

Let me quote this comment on Business Insider because I think it sums the situation  up very well indeed:

If tapering of 10-20 billion has this kind of effect on these small countries currency then why didn’t we see the opposite when QE was announced?

This is economic warfare pure and simple. Why any of these countries  should have their currencies move this violently makes no sense. Their share of exports to the US can’t be that high. The US wants the world to say go ahead, keep print and living above your means. The Truth is that this will shorten the life of the dollar as a reserve currency. People around the world will band together against us.

We should be cutting gov’t spending and we should have reduced taxes over the last five years, but that would have only benefited the American people and let the gov’t feel the pain. We can’t have that now can we.

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