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Portugal's outgoing caretaker PM, Jose Socrates. Photo by EPA
The collapsed Socialist government in Portugal was badly punish in Sunday's early general elections in the country, as the centrist-right Social Democrats (PSD) recorded a convincing win.
PSD won 105 seats, or 39% of the vote, while the rightist CDS party obtained 24, allowing the two traditional government allies to have a strong majority in the 230-seat parliament. The Socialists won 73 seats, 24 less than in the last election.
The winning party is now expected to designate a new government which is to implement a tough EUR 78 B bailout.
The snap vote was scheduled after the opposition in parliament rejected the fourth austerity package the minority government of caretaker Prime Minister Jose Socrates proposed less than a year.
Portugal has been living in political uncertainty ever since the collapse of the Socialist government in March, which led the country to become the third country in the Euro zone member to seek a bailout after Greece and Ireland.
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