Hungary
Hungary to challenge EU plans to ban Russian oil and gas in court
Foreign Minister Peter Szijjarto says plan to ban EU member states' imports of Russian oil and gas from 2027 would "undermine Hungary's energy security".
Europe’s groundwater reserves in danger from Climate Crisis
Europe is turning into an underground desert as groundwater reserves are severely depleted due to intensifying climate impacts and long-term overextraction, according to a new study reported by The Guardian on November 29.
Surging US and Russian LNG exports push gas prices to 18-month low
LNG prices in Europe have dropped to their lowest levels in 18 months, thanks to surging supply and subdued demand across the continent.
IntelliNews Lambda: Europe’s gas storage is back to normal
LNG prices in Europe have dropped to their lowest levels in 18 months, thanks to surging supply and subdued demand across the continent. That has led to comfortably full gas tanks and the lowest deviation from the baseline in 15 years.
Germany retains top spot in Europe real GDP gains, but momentum fading
Germany may be the sick man of Europe, but the industrial powerhouse is still top dog in terms of gains in real GDP growth for now. But not for long. A three-year long recession is eating into the big lead, Germany built up before the war in Ukraine
ECB refuses to back EU’s plan for €140bn Ukraine loan
The European Central Bank has refused to support a €140bn EU loan package intended for Ukraine, dealing a significant blow to a controversial initiative that sought to finance Kyiv using a cash pile from the investment of Russian frozen assets.
Russia-EU trade turnover falls to historic low as sanctions bite
Trade between Russia and the European Union has plummeted to its lowest level on record, as sanctions, energy decoupling, and sanctions bite, Izvestiya reported on December 2.
Eurozone manufacturing PMI stagnates in November, Italy and Spain outperform Germany and France
The Eurozone’s manufacturing sector saw little change in November, with final Purchasing Managers’ Index (PMI) data pointing to continued stagnation across the bloc’s industrial base, Oxford Economics reported on November 28.
Viktor Orban heads to Moscow to secure energy supplies for Hungary
Orban will meet Russian President Vladimir Putin as he aims to guarantee Hungary’s energy supply for the winter and the coming year at affordable prices.
Hungary’s demographic decline deepens in 2025
Hungary recorded a historic low in the number of births in October, with only 5,979 children born during the month.
EU urgently working on a bridge loan for Ukraine if Reparation Loans deal fails
The ongoing discussions on a possible US sponsored peace deal to end the Ukraine war has put fresh pressure on the EU to come up with a solution to Ukraine’s acute funding shortfall.
Hungarian government does not deny reports of Orban’s upcoming Moscow trip
In response to inquiries about the trip, the Government Information Centre stated, "As usual, the public will be informed about the Prime Minister’s foreign visits in due course."
Hungarian banking sector resilient, but housing overvaluation poses risks, central bank says
The Hungarian banking system was characterised by ample liquidity and a strong capital position in 1H25 but overvaluation in the housing market poses increasing risks, the MNB said.
COMMENT: Is the EU deliberately trying to scupper the US peace plan or is it just incompetent?
After the talks in Geneva the 28-point peace plan (28PPP) has been cut to 19 points. But the EU has come up with its own 24-point plan that contains several points that guarantee the Kremlin will reject it.
EU commissioner says EC still shares concerns that triggered Article 7 procedure against Hungary
In his address during a debate at the European Parliament, Michael McGrath noted that the EC regularly expresses its concerns regarding Hungary in its annual Rule of Law Reports.
Trump’s peace plan for Ukraine cut to 19 points from 28
EU leaders consider some of the 28 points of the American plan for resolving the Ukrainian conflict unacceptable and the number of items on the list has been parred back to 19, the Financial Times reported on November 24.
Economic pressures fuelling support for rightwing populists in Emerging Europe, says analyst
Recent elections show rightwing populism is “alive and kicking” in East European countries in 2025, says Mak Kasapovic, Eastern Europe analyst at Oxford Analytica.
EU-Mercosur trade pact faces dual threat from Paris and internal rifts
The long-negotiated EU-Mercosur trade agreement is set to enter a decisive phase amid French opposition and broader tensions within the South American bloc.
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US to present a 28-point ceasefire plan to Ukraine as a fait accompli
A new US 28-point plan to end the war in Ukraine suddenly burst on to the scene on November 20, as the White House hopes to use the growing pressure on Ukraine to force terms on Kyiv as soon as this week.
Home prices in Hungary set for nearly 29% growth in 2025, central bank says
Hungary's home prices jumped sharply this year, with nationwide growth nearing 24% and Budapest close to 30%, and the government's new home loan scheme will push up prices further.