Hungary amends constitution, ending mandates of Sulyok and Polt

https://www.vg.hu/kozelet/2026/07/sulyok-tamas-magyar-peter-uzengetes-alaptorveny

The Hungarian National Assembly has approved the 17th amendment to the Fundamental Law, which effectively terminates the mandates of President Tamás Sulyok and Constitutional Court President Péter Polt. This legislative move, passed on July 13, 2026, is set to automatically remove Sulyok from his position the day after the amendment’s enactment. The modification, initiated by Prime Minister Péter Magyar and the Tisza party, is part of the “Purification” operation aimed at removing barriers to anti-corruption measures and preparing for a new constitutional process. The amendment also enforces a reinstated age limit that affects Polt’s tenure, requiring his departure by September 1.

Key Takeaways

• Market behavior suggests increased likelihood of Tamás Sulyok’s removal following the constitutional amendment, with a significant rise in YES pricing for him being out by July 31.
• The amendment appears to align with current market expectations, as odds for Sulyok’s departure have risen from 82% to 87.5% within a day.
• Markets seem to interpret the approval as a strong indicator of imminent changes in Hungary’s leadership structure.

What to Watch

The next steps include the formal enactment of the amendment, which will automatically end Sulyok’s mandate. Observers will be watching Sulyok’s response, particularly whether he will resign or challenge the decision legally. The government’s actions and any further political maneuvers by Prime Minister Péter Magyar could provide additional clarity on the situation. Additionally, any statements from the Venice Commission or Constitutional Court may influence future market movements.

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