Had an attentive audience at the last of three presentations on “the upside of the downgrade” in Johannesburg last night. Although the talk focused on South African stock picks, it also referenced the fresh breeze called Emmanuel Macron whose new En Marche movement has come from nowhere to win a landslide election in France.
The first Macron copycat has emerged in Hungary. The 28 year old Andras Fekete-Gyor leads a new party called Momentum which is readying itself for next year’s elections. Momentum burst into prominence earlier in the year when convincing over 250,000 Hungarians to sign a petition that forced the government to abandon plans to bid for the 2024 Olympics.
Like En Marche, the new Hungarian party is positioning itself as the “radical centre”, an open-society approach which seeks to overcome old divisions between the political left and right. Fekete-Gyor says both the party and himself draw their inspiration from the 39 year old French leader.
A new political wave is building. Citizens are kicking back against handing over a five year blank cheque to their political leaders. The ripples are sure to hit South African shores. Hope springs.