Can Elections Break Orbán’s State-Made Oligarchy? – INTERVIEW

Former bankers on Hungary's manufactured oligarchs and the struggle for change

26 November 2025

Wojciech Przybylski

Editor-in-Chief

In April 2026, after sixteen years of consecutive governments led by Viktor Orbán, Hungarians will decide if they are persuaded by the ‘war and peace’ or by Péter Magyar’s promise to confront what has come to define the system.

We sat down to speak with two insiders of Hungary’s economic and political transformation: former central banker and regional investment banker András Simor and former economy minister and governor of the National Bank of Hungary Péter Ákos Bod. They examine how Hungary’s current oligarchic order has been built from the top down, what makes it different from the Russian model and what any future government would be up against after the elections in Hungary.

This interview joins the Res Publica Foundation’s Europe Future Forum: Polish-Hungarian Perspectives – a series of high-level bilateral seminars exploring new avenues for Polish-Hungarian cooperation in economic security.

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Wojciech Przybylski

Editor-in-Chief

Wojciech Przybylski is leading strategic foresight on EU affairs to improve democratic security of Poland in Europe. He organises EuropeFuture.Forum as the Editor of Visegrad Insight and the President of Res Publica Foundation. An advisory board member at LSE IDEAS Ratiu Forum, European Forum of New Ideas. A guest lecturer at the Foreign Service Institute for the U.S. Government, Warsaw University and CEU Democracy Institute. He co-authored among others a book 'Understanding Central Europe’, (Routledge 2017), and 'On the Edge. Poland' (Culturescapes 2019), 'Let's Agree on Poland' (Oxford University Press, 2025) and was widely published in the international press.

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