Anibal Cavaco Silva

Cavaco Silva became Prime Minister of Portugal after leading the Social Democratic Party (PSD) to victory in the 1985 legislative election. He formed a minority government, beginning a period of economic liberalization.

Cavaco Silva won an absolute majority in the 1987 legislative election, the first for a single party in Portuguese democracy. This allowed him to implement a comprehensive program of economic reforms and privatization.

Cavaco Silva's government launched a large-scale privatization program, selling state-owned banks, insurance companies, and industrial firms. This reduced the state's role in the economy and attracted foreign investment.

Cavaco Silva signed the Maastricht Treaty on behalf of Portugal, committing the country to the creation of the European Union and the single currency. This deepened Portugal's European integration.

Cavaco Silva was elected President of the Republic, winning in the first round with over 50% of the vote. He served two terms, focusing on economic stability and social cohesion.