BREAKING NEWS

Portuguese center-right beats Socialists in vote

By REUTERS

JUNE 6, 2011 01:30

LISBON - Portugal's center-right Social Democrats (PSD) scored a convincing win over the Socialists in an election on Sunday, punishing the outgoing government for a 78 billion euro bailout that will bring deep austerity.

The result should end months of political uncertainty that began 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.

Exit polls and partial results showed the PSD with around 39 percent of the vote, the Socialists with 28 percent and the CDS with 12 percent.

Social Democrat leader Pedro Passos Coelho is now expected to form a majority coalition with the small rightist CDS party and implement the austerity measures agreed with the European Union and the IMF as part of the rescue package.

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