In today’s newsletter: Orbán concedes defeat after 16 years in power, ushering in a new era for Hungary’s relations with the EU, US and Russia Good morning. The people of Hungary are waking up in an unfamiliar political landscape – one in which Viktor Orbán, who has served as prime minister since 2010, is stepping aside after defeat to Péter Magyar, whose Tisza party has won an election likely to reshape the country’s ties with the EU, the US and Russia. Less than three hours after polls closed on Sunday, Orbán conceded defeat after what he described as a “painful but unambiguous” result. Magyar, who has pledged to repair Hungary’s strained relationship with the EU, crack down on corruption and channel funds towards long-neglected public services, said Tisza voters had rewritten Hungarian