Voting is underway in Portugal’s parliamentary elections.<br /><br /> Like many across Europe in recent times, the ballot is being seen as a referendum on austerity policies and market reforms.<br /><br /> The latest poll gives Prime Minister Pedro Passos Coelho’s governing centre-right coalition a lead of between five and ten points.<br /><br /> But the contest is still open.<br /><br /> Polls suggest socialist leader and former mayor of Lisbon Antonio Costa has a 33% share of the vote but 15% of voters remain undecided and the abstention rate is expected to be high.<br /><br /> This is the first election for Portugal since it exited its bailout last year.<br /><br /> The country has endured deep spending cuts and the biggest tax hikes in living memory as it recovered from its debt crisis.<br /><br /> Experts are anticipating an intense post-election period of political horse-trading in the event of any party winning an absolute majority.
