Portugal's Prime Minister-Elect: We're Fully Committed to Bailout

Portugal's prime minister-elect Pedro Passos Coelho said on Monday he is "absolutely" committed to the terms of the country's 78-billion-euro bailout and may even go beyond the conditions of the loan pact that entails deep austerity.

Social Democrat leader Passos Coelho won a general election on Sunday and told Reuters in an interview he will now form a majority coalition government with the rightist CDS-PP party as soon as possible.

Continue Reading Below

"Portugal needs to return to creating a wave of confidence in the markets," Passos Coelho said. "I think we can surprise and go beyond the (bailout) agreement."