Portuguese President Anibal Cavaco Silva , a former premier and economist, won election to a second term as the country struggles to avoid following Greece and Ireland in requesting a bailout, three exit polls indicated.
Portuguese President Anibal Cavaco Silva led the vote count in today’s presidential election as he aims to secure a second five-year term, state-owned RTP said on its website, citing official results provided by the government.
Portuguese Prime Minister Pedro Passos Coelho’s government won the support of the head of state to stay in office until its term ends in 2015 as President Anibal Cavaco Silva ruled out early elections that would disrupt completion of a bailout plan.
Paulo Portas, leader of Portugal’s conservative CDS party who said he was resigning as minister last week, said the ruling coalition can ensure stable government after its two parties reached an deal to avoid early elections.
Portugal’s bonds advanced, with 10- year yields dropping the most since January, after President Anibal Cavaco Silva said the government will stay in office until its term ends and he doesn’t want to call early elections.