Portugal's Prime Minister-elect Pedro Passos Coelho has said he was 'absolutely' committed to the terms of a €78bn bailout and may pursue austerity measures beyond those required by the pact.
Having won Sunday's general election, the centre-right Social Democrats (PSD) leader has said that he would seek a broad coalition with the rightist CDS-PP party 'in record time'.
The collapse in March of a minority Socialist government aggravated Portugal's long-running debt crisis, with investors dumping bonds and borrowing costs spiralling to euro-era highs. Like Greece and Ireland, Portugal was forced to seek a bailout.
Mr Passos Coelho said Portugal would now 'do the work that is necessary, for the time that is necessary, so that the most important measures can be taken and that all deadlines in the agreement with the European Union and IMF can be respected'.
Conditions for the aid include austerity measures such as big tax rises and deep spending cuts, with quarterly benchmarks.
The PSD has often called for curbing Portugal's public sector, and Mr Passos Coelho said his government would set an example by cutting costs in the administration.
He said it was up to the country's president, Anibal Cavaco Silva, to decide how quickly a new government can take over.
Mr Passos Coelho added that measures could be adapted to speed the passage of reforms. Among proposals put forward by analysts has been compelling parliament to work through the summer.
