**Péter Magyar’s new government, formed after the April 2026 election victory, has moved to remove President Tamás Sulyok through a constitutional amendment following Sulyok’s refusal to resign by the May 31 deadline.** Sulyok, appointed in 2024 under the prior Orbán administration for a term extending to 2029, has rejected calls to step down, citing constitutional procedures and referring the matter to the Venice Commission while warning of a deepening crisis. On June 1, Magyar publicly outlined plans to amend Hungary’s Fundamental Law to enable removal, stating the process would require roughly a month. With the market deadline only days away and parliament focused on related reforms such as prime-ministerial term limits, traders view completion of the necessary legislative steps and presidential transition by June 30 as highly improbable. Sulyok’s continued refusal and the procedural timeline remain the dominant constraints on any near-term change in office.