Hungarian Socialist Party

The Hungarian Socialist Party, commonly known by its acronym MSZP, is a centre-left to left-wing social-democratic and pro-European political party in Hungary. It was founded on 7 October, 1989 as a post-communist evolution and one of two legal successors of the Hungarian Socialist Workers' Party (MSZMP). Along with its conservative rival Fidesz, MSZP was one of the two most dominant parties in Hungarian politics until 2010; however, the party lost much of its popular support as a result of the Őszöd speech, the consequent 2006 protests, and then the 2008 financial crisis. Following the 2010 election, MSZP became the largest opposition party in parliament, a position it held until 2018, when it was overtaken by the centre-right Jobbik. History The MSZP evolved from the communist Hungarian Socialist Workers' Party (or MSZMP), which ruled Hungary between 1956 and 1989. By the summer of 1989, the MSZMP was no longer a Marxist–Leninist party, and had been taken over by a faction of radical reformers who favoured jettisoning the Communist system in favour of a market economy. One of its leaders, Rezső Nyers, the architect of the New Economic Mechanism in the 1960s and 1970s, was elected as chairman of a four-man collective presidency that replaced the old MSZMP Politburo. Although General Secretary Károly Grósz, who had succeeded longtime leader János Kádár a year earlier, was elected to this body, Nyers now outranked him–and was thus now the de facto leader of Hungary. At a party congress on 7 October 1989, the MSZMP dissolved and refounded itself as the MSZP, with Nyers as its first president. A marginal "Communist" faction led by Grósz broke away to form a revived Hungarian Communist Workers' Party, now known as the Hungarian Workers' Party, the other successor of the MSZMP.