Portugal Austerity Measures Election

Portuguese Prime Minister Pedro Passos Coelho said he was "ready" to form a government after his ruling centre-right coalition won Sunday's general election, in a rare case of a bailed-out country re-electing its austerity government.

The leader of Portugal's opposition Socialists, former Lisbon mayor Antonio Costa, on Sunday conceded defeat in a general election billed as a referendum on four years of harsh austerity policies, as near-complete results gave the ruling centre-right coalition a clear lead.

Portugal's ruling centre-right coalition was the clear winner in a general election Sunday seen as a referendum on its austerity policies, although it could lose its absolute majority in parliament, near-complete results showed.

Portuguese Prime Minister Pedro Passos Coelho said he was "ready" to form a government after his ruling centre-right coalition won Sunday's general election, in a rare case of a bailed-out country re-electing its austerity government.

The leader of Portugal's opposition Socialists, former Lisbon mayor Antonio Costa, on Sunday conceded defeat in a general election billed as a referendum on four years of harsh austerity policies, as near-complete results gave the ruling centre-right coalition a clear lead.

Portugal's ruling centre-right coalition was the clear winner in a general election Sunday seen as a referendum on its austerity policies, although it could lose its absolute majority in parliament, near-complete results showed.