Hungary: History

After World War I, the Austro-Hungarian Empire broke up. 

The Treaty of Trianon was signed to formally end World War I. Part of the treaty awarded more than two-thirds of Hungarian Territories to neighboring countries. 

A government coalition decides to implement free-market policies.

Hungary joins the European Union (EU) as part of the 2004 EU enlargement. 

The global financial crisis hits Hungary's economy immensely. Economic aid was offered by the International Monetary Fund, EU, and the World Bank. 

The economist and Prime Minister of Hungary announce new programs to cut public spending, freeze public wages, and raise taxes in an attempt to decrease the budget deficit. 

Despite raising the VAT to the highest rate in the EU, the EU's aid to Hungary was suspended due to its large budget deficit. 

The European Union releases Hungary from the excessive deficit procedure mechanism as Hungary emerges from recession. 

Thousands protest at a visit by Russian President Vladimir Putin on gas supplies to Hungary. EU member states had agreed not to hold bilateral meetings with Mr. Putin after Russia's annexation of Crimea.

A new law allows the arrest of migrants seeking to cross the fence on the Serbian border, after 200,000 mainly from the Middle East enter the country over the summer in hope of moving on to Germany and elsewhere.

The government claims victory after referendum overwhelmingly backs its rejection of EU plans to relocate migrants among member-states, despite a low turnout of 40.4%.

The European Parliament threatens to suspend Hungary from the EU in practical terms over its attempts to close down the liberal Central European University in Budapest.