Hungary once represented a school-book case of transition to democracy. Now it offers insights into both contemporary Europe and theories of populism and nationalism. Resisting the traditional linear perspective to transition and a ‘demographic’ view of democracy, this article explores the relationships among democracy, populism and nationalism. This article operationalises performative and post-foundational theory of populism as a logic of articulation to explain Fidesz and the party leader Viktor Orbán’s illiberal measures, dichotomies between them and us, ultimately leading to nationalism and xenophobia. It shows how revolution, ‘illiberalism’ and migrants have served for populist meaning-making and are related to the political polarisat...