Portuguese go to polls as country grapples with bailout

by
June 5, 2011


By Axel Bugge, Reuters

LISBON (Reuters) – Portugal will elect a new government on Sunday which will lead the country through a period of deep austerity and recession after it received a 78-billion-euro ($114 billion) bailout from the European Union and IMF.

The election will end a period of political and financial turmoil that started with the collapse of the Socialist government in March and led Lisbon to become the third country in the euro zone to seek a bailout after Greece and Ireland.

The Portuguese, who face unemployment at its highest level in three decades, are expected to reject caretaker Prime Minister Jose Socrates and turn to opposition center-right Social Democrat leader Pedro Passos Coelho.

The latest polls have given Passos Coelho around 37 percent support compared with 31 percent for Socrates, which will most likely mean that the Social Democrat will need to team up with the small rightist CDS party to form a majority in parliament.

Antonio Barroso, Europe analyst at Eurasia, said such a rightist coalition government was the most likely election outcome.

“This would be the most straightforward option if the Social Democrats and CDS can secure an absolute majority between them,” Barroso said in a research note.

“Both parties are strongly committed to the implementation of the bailout conditions and would easily negotiate a common economic programme.”

The CDS has about 12 percent backing in polls.

To read more, visit:  http://www.reuters.com/article/2011/06/04/us-portugal-election-idUSTRE7532LZ20110604

No comments yet - you can be the first!

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep the Fake News Media in check.

Don’t let the MSM censor your news as America becomes Great Again. Over 500,000 Americans receive our daily dose of life, liberty and pursuit of happiness along with Breaking News direct to their inbox—and you can too. Sign up to receive news and views from The 1776Coalition!

We know how important your privacy is and your information is SAFE with us. We’ll never sell
your email address and you can unsubscribe at any time directly from your inbox.
View our full privacy policy.