Portugal to hold presidential elections amid debt crisis
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In the final days before Portugal's presidential elections on Sunday, incumbent Anibal Cavaco Silva and Manuel Alegre, who is backed by Socialist Party, were clearly the most favored among the six candidates.
But whoever wins the election, the president-elect will have to face the daunting task to lead the nation out of the current debt quagmire as Portugal is widely expected to seek aid from the European Union (EU) and the International Monetary Fund (IMF), following the steps of Greece and Ireland.
PRESIDENTIAL HOPEFULS
Among the six presidential candidates, incumbent president Anibal Cavaco Silva and Manuel Alegre, a candidate backed by the ruling Socialist Party, are seen as the front-runners in the race.
Silva, who was elected in January 2006 for a five-year term, is supported by the Social Democrat Party, the main opposition party.
When announcing his decision to run for a second term, Silva said: "Given the extremely difficult situation Portugal is facing at the moment, I thought it was my duty to stand for election. With my experience and my knowledge, I can help my country."
The former economics professor was seen as being instrumental in putting the country's economy on a fast track when serving as prime minister during 1985-95.
A recent poll by the Portuguese Catholic University showed that Silva, with 60 percent of support, is most likely to score an outright victory in Sunday's election to remain in office.
Analysts said Silva's rich experience and knowledge could explain why he enjoys a majority of support among voters who hope to choose an experienced candidate to deal with the current economic crisis.
Another factor for boosting Silva's re-election prospects is a publicity campaign portraying him as a mild and centrist statesman during his first mandate.
For example, he showed prudence in collaborating with the ruling party, refraining from using his presidential veto power on issues like gay marriage or abortion.
Manuel Alegre, Silva's main rival, is a well known poet and prominent leftist who would take 22 percent of the vote according to latest polls.
Alegre's campaign, based on the popular slogan of "defending the welfare state and the working class' interests," has helped him win considerable support, making him the closest rival to Silva in the first round.
The chances of victory for the other candidates are slim, as polls predict less than 5 percent of the vote for any of them.
If no candidate receives more than half of the vote on January 23, a run-off will be held on Feb. 13.
