As the United States, under the control of the liberal Democrats, moves closer to socialism, Europe moves to the right because they realize that liberalism has failed them...
Portugal's governing Socialist Party has admitted defeat in the general election.
Socialist leader Jose Socrates said he accepted responsibility for the defeat and resigned as head of his party.
The victorious centre-right Social Democrats (PSD) led by Pedro Passos Coelho are expected to form a majority with the conservative CDS.
The new government must implement a demanding austerity programme as a condition for an EU bail-out.
Exit polls gave the PSD between 37% and 42.5% of the vote, ahead of the Socialists who scored between 24.4% and 30%.
"These are clear results which the Socialist Party wants to recognise. All the results point to a win for the PSD and a defeat for the Socialists," Economy Minister Jose Vieira da Silva said.
BBC
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