In 1944, responding to the advancing Soviet forces, Regent Miklos Horthy deposed the last fascist Prime Minister and installed an anti-Fascist regime.
Shortly afterward, German forces invaded Hungary, deposed Horthy as Regent, and installed a puppet regime led by Ferenc Szálasi of the anti-Semitic and pro-Nazi Arrow Cross Party. From May to June 1944, Hungarian authorities rapidly rounded up and transported hundreds of thousands of Hungarian Jews to Nazi concentration camps, where most died.
After the fall of the Szálasi regime, Béla Miklós's Soviet-backed government was left nominally in control of the entire country. The High National Council, appointed in January to assume the Regency, included members of the Hungarian Communist Party.
- Has market price data
