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Free AccessSelection Of New President Could Further Delay Sweden NATO Ratification
Following the announcement of the resignation of President Katalin Novák on 10 Feb, the likelihood of further delays to the Hungarian National Assembly's ratification of Sweden's NATO accession has risen. As EU Observer notes, "Hungarian MPs were waiting for 21 February to see if Orbán would put Sweden's Nato-entry ratification on the parliament's spring agenda.[But after Novak's resignation] the parliament will now be busy choosing a new head of state instead, in a process due to take more than 30 days."
- The Hungarian president is elected indirectly by members of the National Assembly. There is speculation that PM Viktor Orbán and his right-wing populist Fidesz party could use Novák's resignation as an excuse to delay Sweden's NATO ratificaiton, arguing that a new president must be in place to sign the ratification. However, Novák remains in office until a new president is selected, and as such could sign off on any parliamentary approval.
- Under the constitution, the presidential election must take place within 30 days of the resignation. Candidates required the backing of one-fifth of National Assembly members to get onto the ballot. The secret ballot takes place over a maximum of two days. A candidate wins in the first round if they garner support of two-thirds of lawmakers. If no candidate wins in the first round, a second round takes place between the two highest placed candidates, with a simple majority required.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.