King Salman Global Academy for Arabic Language launches program with Indiana University    Saudi, US military leaders discuss enhanced defense cooperation in Riyadh    Ronaldo brace powers Al Nassr past Al Hilal in Riyadh derby thriller    Ed Sheeran weaves Persian music into new song, Azizam    Al-Jadaan: Crown Prince's directives confirm government's ability to bring back balance to real estate market    China retaliates against Trump's trade war with 34% reciprocal tariffs on US goods    Saudi Arabia condemns Israeli escalation, targeting of civilians and Saudi warehouse in Gaza    Danish PM dismisses US desire to annex Greenland 'You cannot annex another country'    Bulgaria's government survives no-confidence vote brought by pro-Russia party    Saudi Crown Prince, Iranian president discuss regional developments in Eid phone call    Rain expected in Makkah and Jeddah on Saturday    Veteran Bollywood actor Manoj Kumar dies at 87    Foreign investors are allowed to engage in real estate business outside Makkah and Madinah Commercial speculation should not be the purpose of real estate transaction    Aubameyang fires Al Qadsiah into King's Cup final with stoppage-time winner over Al Raed    Tesla sales plunge after backlash against Elon Musk    Musk's X is suing India, as Tesla and Starlink plan entry    Swedish table tennis legend Jörgen Persson appointed head coach of Saudi national team    Danilo Pereira fires Al Ittihad into King's Cup final with dramatic stoppage-time double    Screen time in bed linked to insomnia, study finds    Mexico bans junk food in schools to fight childhood obesity epidemic    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Portugal elects president amid economic worries
Published in Saudi Press Agency on 23 - 01 - 2011

Portugal's financial crisis weighed heavily in the country's presidential election Sunday, with opinion polls indicating an emphatic victory for the conservative incumbent after the Socialist government enacted deeply unpopular austerity measures, according to AP.
Though the head of state has no executive powers the re-election of Anibal Cavaco Silva, who is supported by the main opposition Social Democratic Party, would add to political pressure on the embattled minority government as Prime Minister Jose Socrates scrambles to restore confidence in Portugal's ailing economy.
Portugal's political and economic fortunes are important for the rest of Europe because its government's collapse would add fresh momentum to the continent's debt crisis.
Many analysts predict Portugal's economic woes will sooner or later force it to accept a bailout like the ones provided to Greece and Ireland last year.
Crucially, the president possesses the power _ known as his «atomic bomb» _ to dissolve parliament and call an early election if he feels the government is going down the wrong path.
Such an extreme measure is uncommon, however. A key role of the head of state, which Cavaco Silva has said he will respect, is to ensure political stability.
Recent polls have predicted around 55 percent of the vote for Cavaco Silva, an economist who was a center-right Social Democrat prime minister from 1985-1995. The center-left Socialist Party's candidate Manuel Alegre is forecast to collect about 25 percent. Results were expected by 11 p.m. (2300 GMT, 6 p.m. EST).
«Voters will take this opportunity to punish the ruling Socialist Party for the country's economic difficulties,» said Antonio Barroso, an analyst with Eurasia Group in New York.
The government insists it doesn't need a bailout. Instead, it has cut public sector pay and welfare entitlements and hiked taxes to reduce a debt load that threatens to wreck the economy.
The austerity measures prompted dozens of strikes last year, including a 24-hour general strike that shut down many public services. Public transport and mail services are due to be hit again in strikes next month.
Cavaco Silva has backed the government's belt-tightening program and says he doesn't want to worsen the country's plight by provoking conflicts with the ruling party.
However, he has already spoken out against government plans to jolt the economy through costly public works projects, including a high-speed rail link to neighboring Spain, because he says the country can't afford them. He has also indicated the government should have spared the less well-off from tax hikes.
The government doesn't face a general election until 2013, but right-of-center opposition parties have warned they may call for a vote of no-confidence in Parliament if the government's policies fail and it resorts to a bailout.
Years of feeble growth have made Portugal one of the 17-nation euro zone's weakest members and deepened Portuguese fears about their country's economic future. Unemployment has surged to more than 10 percent over the past year.
A heavy defeat for his presidential candidate may persuade Socrates, the prime minister, to fire members of his government perceived as weak and replace them with new names in a bid to bolster public support.
Further difficulties lie ahead. The European Commission and the International Monetary Fund forecast Portugal will enter recession in 2011 for the second time in three years.
During the two-week campaign many comments on phone-in programs and news websites expressed voter anger at how politicians _ both the Socialists and the Social Democrats _ have managed the economy over the past decade.
Manuel Vasques, a retired engineer voting in Lisbon, said he blamed politicians for leading Portugal into crisis, «but Cavaco (Silva) is the least bad choice» because he understands international financial issues.
Four other candidates are running, and the winner must get 50 percent plus one vote or a runoff will be held Feb. 13 for the two top finishers.
Disaffection with political leaders could translate into a high abstention rate. By 4 p.m. (1600 GMT, 11 a.m. EST), four hours before polls were due to close, just over 35 percent of the country's 9.6 million registered voters had turned out.


Clic here to read the story from its source.