Portuguese politician Pedro Passos Coelho will most likely play a key role in the near future of Portuguese politics. He is the leader of the major opposition party – the center-right Social Democratic Party (PSD).

Last week, all the opposition parties in the Portuguese parliament rejected the Socialist-led government’s list of austerity measures. The move forced Prime Minister José Socrates to resign.

A recent pool revealed that if the election would take place now, PSD would win with 46.7 percent votes over outgoing incumbent José Socrates with 24.5 percent.

“My Social Democratic Party, the country’s main opposition party, has been and remains a staunch supporter of reducing Portugal’s public deficit to 4.6% of GDP in 2011 (from perhaps 7% last year) and to keep narrowing the budget gap to 3% of GDP in 2012 and to 2% of GDP in 2013.”  Wrote Passos Coelho for the Wall Street Journal.

President Cavaco Silva is meeting today with the consultative Council of State to decide over the formation of a new coalition government or whether Parliament should be dissolved and elections called.

It is expected that President Cavaco Silva will call for early elections, for late May or early June. The three major parties have all suggested the President should call early elections.

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