[3] Nevertheless, support for Sócrates and the Socialists eroded and the ruling party lost its majority in the 2009 election.

[2] The second government of José Sócrates faced a deterioration of the economic and financial state of the country, with skyrocketing deficit and growing debt.

[4] On 23 March 2011, Sócrates submitted his resignation to President Aníbal Cavaco Silva after the Parliament rejected a new austerity package (the fourth in a year), leading to the 2011 snap election.

Financial status of the country deteriorated and on 6 April Sócrates caretaker government requested a bail-out program which was conceded.

Sócrates lost the snap election held on 5 June 2011 and resigned as Secretary-General of the Socialist Party.