Election victory
June 6, 2011
Portugal's center-right opposition claimed victory over the ruling Socialists in a general election on Sunday that followed the resignation of Prime Minister Jose Socrates.
Prime minister-in-waiting, Pedro Passos Coelho, vowed to honor Lisbon's 78-billion-euro ($114 billion) bailout deal with the European Union and International Monetary Fund (IMF) after his Social Democrats (PSD) won the poll.
"I want to guarantee to those who are watching us from abroad that Portugal does not intend to be a burden for the future to other countries that lent us the means that we needed today to face up to our responsibilities," Passos Coelho told supporters.
"We will do everything possible to honor the agreement established between the Portuguese state, the EU and the IMF to regain the confidence of markets," he added.
A mandate for change
The PSD captured 38.6 percent of the vote compared with 28 percent for the Socialists.
The result means that the PSD take 105 seats in the 230-seat assembly while the Socialists have only 73 seats.
Figures were issued early Monday by the Portuguese Interior Ministry, with only the results of votes cast abroad - which elect only four seats - remaining to be counted.
Although the PSD is short of a majority, Passos Coelho said he would seek to form a coalition with the smaller, conservative CDS-PP party.
With the CDS-PP's 24 seats, any coalition would have an absolute majority in parliament, putting Passos Coelho in a stronger position than his predecessor to push through austerity measures.
Swift action anticipated
Passos Coelho is expected to act swiftly to introduce reforms that would see an increase in taxes and dramatic spending cuts.
Socrates resigned as premier in March, continuing only as caretaker prime minister, after his minority government lacked the parliamentary numbers to pass a fourth round of austerity measures required by lenders as part of the bailout deal. The resignation forced President Anibal Cavaco Silva to call the early election.
Investors have been keeping Portugal's borrowing costs close to record levels even after agreement was reached on the bailout in May, because of fears that any future government may lack the necessary mandate to pass austerity measures.
After the election results were announced, Socrates announced his resignation as Socialist leader, claiming it was time for the party to start a "new cycle."
Some 60 percent of the 9.6 million people who were eligible to vote turned out, slightly down on elections in 2009.
Author: Richard Connor (AFP, dpa, Reuters)
Editor: Martin Kuebler