Legislative elections will be held in September of this year. (The next Presidential election will be in 2010.) The left-wing Socialists won a landslide victory in 2005 over the right-wing Social Democrats and look likely to repeat that performance, albeit with a stronger far-left presence.
2005PS: 45.0% (121 seats) [left-wing]
PSD: 28.8% (75 seats) [right-wing]
CDU: 7.6% (14 seats) [far-left coalition of communists and greens]
CDS/PP: 7.3% (12 seats) [ultra-religious conservatives and extreme neoliberals]
BE: 6.4% (8 seats) [more far-leftists]
New pollPS: 39.6%
PSD: 24.9%
CDU: 11.9%
BE: 10.1%
CDS/PP: 9.7%
Bono, I would imagine, is not happy.