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Edition: U.S. Article Comments (0) Slideshow Save Email Print Reprints Most Popular Most Shared US Senate Republican calls for strict swaps rules 24 Apr 2010 Police barred from penis enlargement 23 Apr 2010 Tornado kills 10 in Mississippi: officials | Video 12:21pm EDT Greece expects debt aid rescue in time | Video 4:28pm EDT UPDATE 1-Obama warns of 'misguided' immigration efforts 23 Apr 2010 Potentially deadly fungus spreading in U.S. and Canada 22 Apr 2010 UPDATE 1-Obama calls 1915 Armenia massacre an atrocity 24 Apr 2010 Senators near agreement on financial regulation 2:15pm EDT Rich world may face next downturn with dull weapons 22 Apr 2010 North Korea torpedoed South's navy ship: report 22 Apr 2010 Police barred from penis enlargement 23 Apr 2010 Potentially deadly fungus spreading in U.S. and Canada 22 Apr 2010 US Senate Republican calls for strict swaps rules 24 Apr 2010 Britons believe the hills are alive with haggis 23 Apr 2010 Rich world may face next downturn with dull weapons 22 Apr 2010 U.S. to WellPoint: Stop dropping breast cancer patients 23 Apr 2010 Israel lifts ban on imports of Apple iPad 3:03am EDT Greece expects debt aid rescue in time | Video 4:28pm EDT U.S. students suffering from Internet addiction: study 23 Apr 2010 UPDATE 1-Obama calls 1915 Armenia massacre an atrocity 24 Apr 2010 Pictures Best of the week Our best photos from the past week. Slideshow Hungary's Fidesz wins historic two-thirds mandate Marton Dunai and Krisztina Than BUDAPEST Sun Apr 25, 2010 4:42pm EDT Factbox Factbox: Hungarian laws unlocked by 2/3 majority 4:42pm EDT Related News Instant View: Hungary's Fidesz wins 2/3 in next parliament 2:25pm EDT < 1 / 2 > View Full Size BUDAPEST (Reuters) - Hungary's next prime minister Viktor Orban said on Sunday voters had carried out a "revolution" by giving his party two thirds of the seats in parliament to rebuild Hungary after a near financial collapse. World With nearly all second round votes counted, center-right Fidesz had won 263 seats, above the 258 needed for the two-thirds majority, ousting the Socialists after eight years and securing a mandate to enact reforms and revive the economy. "Revolution happened today in the polling booths," Orban told some 4,000 cheering supporters in downtown Budapest. "Hungarian people today have ousted the regime of oligarchs who misused their power, and the people have established a new regime, the regime of national unity." Fidesz was last in power between 1998 and 2002 and Orban can now form the first non-coalition government with a two-thirds mandate in Hungary's 20-year post-communist history. The prospect of a strong government is seen by analysts as positive for the forint currency and financial markets in the short term, but Fidesz will not enjoy a long honeymoon period. Investors will want to see clear plans on how it wants to lower taxes and also keep the budget deficit in check. Hungary, which has a track record of deficit overshoots, stabilized its finances with painful spending cuts last year. With its public debt still at around 80 percent of GDP, the new government will not have much fiscal room of maneuver and will have to set the debt on a declining path. "If implemented, changes like the reform of the municipal system or a profound tax and labor market reform would shift the nature of the fiscal adjustment from expenditure freezes ... toward structural changes that would support long-term fiscal sustainability," analysts at Goldman Sachs said. "A failure to implement the promised reforms would quickly erode the confidence in the new government and the course of the economic policy." EXPECTATION Government bonds and the forint have rallied in the two weeks since Fidesz secured a majority in the first round. The central bank is seen cutting interest rates further by 25 basis points to a new all-time low of 5.25 percent on Monday. The Socialists will have 59 seats in the next parliament while far-right Jobbik will have 47 seats. Green liberal LMP has won 16 seats based on preliminary results. Its mandate would enable Fidesz to enact reforms such as streamlining local government and changing electoral law or even the constitution. It can also make dual citizenship easier to get for millions of ethnic Hungarians in neighboring states which may lead to tension with Slovakia and also some other neighbors. Fidesz has pledged to create jobs, lower taxes, and cut bureaucracy to revive the economy. It has also said it wanted a new deal with international lenders -- the IMF and the EU -- which saved Hungary from financial collapse in October 2008. The deal will expire by October and Fidesz will likely want to negotiate a higher budget deficit for this year, which analysts said the IMF would probably accept only if it saw a clear plan for structural reform. Hungarians, weary of a deep recession and unemployment running at a 16-year high, will want to see an improvement in their lives quickly, and with municipal elections due in October, Fidesz will need to make some symbolic changes. It has promised to halve the size of parliament and the number of representatives in councils and curb corruption. "Public safety, holding corrupt leaders accountable, and most of all, jobs. That's what most Hungarians want," said Janos Fristaczki, 60, a bus driver. Fidesz will face pressure from Jobbik to keep its promises. "A million people expect the tax cut, a million expect that the threat of being evicted from the homes will be averted, that crime will be liquidated ..." Jobbik chairman Gabor Vona told supporters on Sunday. "If the new government, breaching its election pledges, wants to water down these urgent issues, Jobbik will be ready to force its will -- which in our view is the will of the whole society -- on the cabinet to be formed, using all tools in parliament and all democratic tools outside parliament." (Additional reporting by Gergely Szakacs and Sandor Peto; Editing by Alison Williams) World Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. More from Reuters Thai "red shirts" vow to intensify campaign BANGKOK (Reuters) - Anti-government protesters encamped for weeks in central Bangkok promised more aggressive measures after the government rejected their proposals to end increasingly violent protests in return for early polls. | Video Cubans go to polls as dissident group harassed Spain captures 8 suspected Somali pirates No headway on nuclear deal as Iran meets IAEA chief | Video Hungary's Fidesz wins historic two-thirds mandate Bosnia, Serbia pledge to mend ties, lure investors » More Top News No more wiggle room The globe's advanced economies have used up most of their crisis-fighting tools, leaving them highly exposed to new shocks. Full Article Emerging nations to rich: Tame debt Factbox: U.S. financial reform proposals ECONOMY Waging BBQ diplomacy Robert Egan is just like any other restaurant owner in New Jersey -- except for his role as unofficial conduit between the United States and North Korea, that is. Full Article Russia pines for volcano-halted oysters lifestyle © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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