T he transformative impact of Péter Magyar’s historic election victory over Viktor Orbán is already being felt in Brussels. On Monday, two days after Mr Magyar was sworn in as Hungary’s new prime minister, his new pro-EU government lifted the veto which for over a year has prevented the EU imposing sanctions on violent Israeli settlers. This followed a similar breakthrough on a long-delayed £78bn loan to Ukraine, which Mr Orbán had also blocked. At a critical geopolitical moment, the end of an era in Budapest is freeing the EU to act in defence of its interests and values. Mr Magyar, who inherits a struggling economy stifled by years of cronyism and corruption, will hope and expect that the benefits of rapprochement cut both ways. In total, around £17bn of EU development funds to Hungary remain off-limits, following Mr Orbán’s refusal to address multiple transgressions of EU law. Agreement on the disbursement of around £10bn needs to be reached by the end of August.…