23 October 1956: Hungarian Revolution starts

On this day in 1956, security forces in Hungary attacked protesters who were demanding reforms from the government of Matyas Rakosi.

Hungarian revolution, 1956
Hungarians were tired of Soviet rule
(Image credit: © Gamma-Rapho via Getty Images)

From 1928 until his death in March 1953, Joseph Stalin ruled the Soviet Union and its satellites with ruthless brutality. When Nikita Khrushchev took over later that year, he eased up on the purges, while setting up the Warsaw Pact, binding Soviet-occupied countries in eastern and central Europe to the USSR. In February 1956, Khrushchev made a speech to top party officials criticising Stalin's methods, sparking hope of further change.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Dr Matthew Partridge
Shares editor, MoneyWeek

Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.

He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.

Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.

As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.

Follow Matthew on Twitter: @DrMatthewPartri