By Jonathan Davies

Fears over another Greek-style crisis are rising after Portugal's Socialist Party promised to rejects austerity measures imposed by its creditors.

Like Greece, Portugal received a European bailout and as the country's elections approach, the left-wing, anti-austerity party is gaining popularity.

"We will carry out a reverse policy,” said Antonio Costa, the Socialist leader as he also revealed that no more public officials would be sacked under a government controlled by his party.

Mr Costa said that Portugal's public sector needs to be rebuilt after the cuts imposed by the EU, European Central Bank and International Monetary Fund (IMF).

As part of its bailout, Portugal had to implement a number of austerity measures as somewhat of an insurance policy for its creditors, as Greece did.

“There must be an alternative that allows us to turn the page on austerity, revive the economy, create jobs, and — while complying with euro area rules — restore hope to this county,” Mr Costa said.