Hungary’s ruling Fidesz-KDNP coalition introduced a new draft law on Friday evening in Budapest aimed at MEP transparency.
The proposed legislation requires all Hungarian Members of the European Parliament to disclose their financial assets, mirroring national lawmakers.
However, the law also grants the National Electoral Office (NEO) the power to revoke MEP mandates for noncompliance.
In such cases, the NEO president would notify the European Parliament president of the termination of the mandate.
Critics say this step could violate EU legal norms, since member states traditionally cannot annul MEP terms unilaterally.
Péter Magyar Says Law Designed to Discredit Him
Péter Magyar, founder of the Tisza Party, believes the draft law was created specifically to target him.
In a pointed Facebook post to Viktor Orbán, Magyar accused the government of weaponising legislation to remove him.
“You’ve told your jesters to find a miracle weapon to get me out of the way,” Magyar wrote.
Magyar’s party currently leads Fidesz by 9%, according to a March poll by Median, ahead of next year’s election.
Analyst Szabolcs Dull said the law applies only to MEPs, not to national MPs, making the target obvious.
He noted that insider trading investigations already surround Magyar, and that the law aims to damage his image, not his candidacy.
“This isn’t about removing him,” said Dull. “It’s about keeping him in scandal headlines.”
Euronews asked Fidesz for comment, but received no response.
Insider Trading Allegations and Legal Disputes Raise Tensions
In February, Hungary’s Central Investigative Prosecutor’s Office opened an inquiry into Magyar’s 2013 stock trade.
Back then, Magyar was a Fidesz ally and allegedly profited from a share sale just before a buyback announcement.
Hungarian media linked the transaction to Opus, a company connected to billionaire Lőrinc Mészáros, an Orbán associate.
Magyar denied the accusations, calling them “entirely fake,” and said bank records disprove the timeline.
Legal expert Tamás Lattmann stated that revoking MEP mandates through national law contradicts EU principles.
He said the European Parliament could reject any such move and predicted a drawn-out legal battle in Hungarian and EU courts.
A Parliament spokesperson declined to comment on draft-level legislation.
Magyar, meanwhile, responded defiantly, promising full financial transparency and challenging Orbán to do the same.
“I’ll declare my assets—and those of my relatives. Let’s both strip down, Prime Minister!” he wrote online.
He mocked Orbán over rumours of a private zoo and lavish landscaping at his estate, claims the government dismissed as “beneath humour.”