Soros will no longer work in Hungary

The signboard of George Soros' Open Society Foundations is seen in a building in Budapest

The foundations, which promote democracy, free expression and civil rights, have come under growing political and legal pressure from Prime Minister Viktor Orban, who has stifled dissent and declared last week that "the era of liberal democracy is over". "It has become impossible to protect the security of our operations and our staff in Hungary from arbitrary government interference", CNBC added.

Billionaire George Soros's pro-democracy foundation said on Tuesday it would shut its office in Budapest and move to Berlin, leaving what it called "an increasingly repressive political and legal environment" in Hungary.

PM Viktor Orban has repeatedly slammed the tycoon for meddling in the nation's internal affairs.

George Soros' Open Society Foundations is ending its operations in Hungary, accusing Budapest of repressing civil society.

The 54-year-old premier, reelected for a third consecutive term last month, has long accused Soros of orchestrating immigration into Europe.

In a statement, the foundations said the government had spent "more than 100 million euros" on a propaganda campaign against them, including "invoking anti-Semitic imagery from World War II".

The bill would allow the interior minister to ban any NGOs active in the immigration field deemed to pose a "national security risk".

Soros has remarked that the Hungarian government was attempting to slander him by pushing "distortions and lies".

After Orban and his Fidesz Party won a landslide in parliamentary elections on April 8, the attacks on Soros and the OSF have increased.

Before the election, Orban's political campaign vilified Soros, and his activity supporting civil society, on billboards nationwide.

George Soros, founder and chairman of the Open Society Foundation, waits for the start of a meeting at European Union headquarters in Brussels on April 27, 2017.

According to the Open Society Foundations' statement, the closure in Budapest will impact more than 100 staff based there, about 60 percent of whom are Hungarian. The Central European University, a graduate school started by US billionaire George Soros, said yesterday it would stay in Hungary's capital despite a decision by its founder's foundation to leave. The bill says that all NGOs which "support illegal immigration" need to be registered, while any NGO which gets money from overseas must pay a 25-percent tax.

Central European University in Budapest, another institution that was founded and funded by Soros, remains in a state of limbo.

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