Major governing party, Socialist MSzP elected Prime Minister Mr Ferenc Gyurcsany as party President on their Congress on Saturday with 89% support. Prior to the vote the Mr Gyurcsany said he would resign from the Prime Minister position if he would receive less than 75% of total votes.
Our view: We see the news as neutral, as it was expected that Mr Gyurcsany will get the simple majority of the votes to become the Socialist party President. We see the party’s vote has reconfirmed the PM is his position following the Parliamentary confidence vote by the end of last year.