Anibal Cavaco Silva Won Presidential Elections in Portugal

Portuguese President Anibal Cavaco Silva was elected for a second term according to the election results declared on 23 January 2011. Anibal Cavaco Silva won 53% of the total votes defeating his closest rival Manuel Alegram, who could manage only 20%. The election took place amidst the debt crisis. There were total six presidential candidates in the election. Cavaco Silva was backed by the opposition, Social Democratic Party while Manuel Alegre was supported by the Socialist Party of incumbent Portuguese Prime Minister Jose Socrates. At present, the socialist party is in power.

Re-election of Portuguese President Anibal Cavaco signaled stability for Portugal. Any kind of uncertainty in the Presidential election results would have pushed interest rates up.

Silva supports the austerity plan proposed by the Socialist government. The plan aims to cut Portugal’s deficit so that to avoid any financial crisis like the ones in Greece and Ireland. The Portugal implemented its third austerity plan in a year.

Although Portugal’s President is mainly a ceremonial figure he has one major power given by its constitution and that is to dissolve parliament without giving any justification.

At present, Portugal is facing problems like, unemployment, poverty and external debts.
Portuguese President Anibal Cavaco was elected the President of Portugal for the first time in 2006. The government of Socialist Prime Minister Jose Socrates will face the election in 2013.