Portugal Hopes for Better Economy after Elections

Elections were held in Portugal today (June 5) to elect the 230 Assembly members. While the Portuguese people expect the end of persisting recessionary era in the country after the elections, it’s believed that no single political party will come with absolute majority to enjoy free hand in the government.

The Portugal economy is under severe pressure, as a couple of months ago it sought a $112-billion bailout from European Union (EU) and IMF to save it from bankruptcy.

Initial reports suggest that the caretaker Prime Minister José Sócrates of the Socialist Party may have to pass on the baton to Social Democratic group led by Pedro Passos Coelho. Socialist party won 97 seats in the last elections while the Social Democratics bagged 81.

The José Sócrates government fell on March 23.

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Rakesh Raman