
Portuguese Prime Minister Antonio Costa speaks to the press in Lisbon on Oct. 8, 2019, two days after his Socialist Party won the most seats in Portugal's parliamentary elections, but fell just short of a majority.
In the wake of the eurozone financial crisis in the early 2010s, an informal alliance of left-wing forces in Portugal unexpectedly managed to not only stabilize the country's battered economy, but also to make it more attractive to foreign investors. And Portugal's Oct. 6 general election has since confirmed its place as a European anomaly, with the government winning reelection on a continent where nationalist and right-wing parties are on the rise. After receiving almost 37 percent of the vote, Prime Minister Antonio Costa and his Socialist Party are now seeking support from smaller left-wing parties to form a new government. But despite Portugal's strong economic performance in recent years, public and private debt remain high.