Former Prime Minister of Portugal, and current Social Democratic Party leader, Pedro Passos Coelho has decided not to seek re-election, due to last Sunday’s collapse in support for his party at the local election ballot box.
On Sunday night, when PSD defeat was clear, Passos Coelho said he needed a few days to consider his position. This he has done and decided that 'enough is enough.'
After seven years at the helm of the PSD, Passos Coelho is stepping down from the leadership position to enable the party to choose another leader to be appointed before the year-end. Nominations will be announced next week.
In a long farewell speech, Passos Coelho revealed that he will not put himself forward again as the Social Democratic Party leader, stressing that he has not resigned as he will remain in the party until a new leader was introduced.
The National Council of the PSD will meet next Monday to trigger internal elections to be held before the end of the year.
In his address, the Social Democrat leader admitted that "a new leadership for the PSD and a new strategy will have better possibilities for progression and success," than if he stayed on.
Passos Coelho promised not to "haunt" the next leader, but also made it clear that he will not remain silent. Claiming to be unconcerned as to who will take his place, Pedro Passos Coelho already has referred to two possibles, Hugo Soares and the MEP Paulo Rangel.
Many from within his own party wanted Passos Coelho to step down after Antonio Costa's Socialist Party romped home in the 2015 General Election. His increasing bitterness has led to opposition attacks that have been seen as pointless and ultimately unproductive for a party that has a long way to go before again being considered electable.
Costa's skillful dissemination of the 'Portugal's economic miracle,' story, despite a ballooning deficit, has left the PSD in ineffective bewilderment.