Socialists eroded and the ruling party lost its majority in the 2009 election. The second government of José Sócrates faced a deterioration of the economic and financial state of the country, with skyrocketing deficit and growing debt. Austerity was resumed in 2010 while the country entered a hard financial crisis in the context of the European debt crisis. 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. The €78 billion IMF/European Union bailout to Portugal thus started and would last until May 2014. Sócrates lost the snap election held on 5 June 2011 and resigned as Secretary-General of the Socialist Party. For most of his political career, Sócrates was associated with several corruption cases, notably Independente University and Freeport cases. On 21 November 2014 he was arrested in Lisbon, accused of corruption, tax evasion, and money laundering, becoming the first former Prime Minister in the history of the country to be thus accused. On 24 November Sócrates was remanded in custody on preliminary charges of corruption and tax fraud. He was held in Évora prison until 4 September 2015 when he left the prison for a relative's house in Lisbon, where he remained under house arrest until 16 October 2015. That day, a judge released him from house arrest, allowing him to await the end of the investigation in freedom, although remaining forbidden from leaving the country or contacting other suspects of the case. The police investigation, known as Operation Marquis continued until his indictment in October 2017. In 2018, Sócrates abandoned the Socialist Party. Biography Early years José Sócrates was born in Porto on 6 September 1957, and was registered as a newborn in Vilar de Maçada, Alijó municipality, in northeastern Portugal, since the locality was his family ancestral homeland. However, the young José Sócrates lived throughout his childhood and teen years with his father, a divorced building designer, in the city of Covilhã, Beiras e Serra da Estrela, in central inland Portugal, in the Centro region. His parents are Fernando Pinto de Sousa (Vilar de Maçada, Alijó, 15 November 1926 – Oporto, 18 July 2011) and wife and remote relative Maria Adelaide de Carvalho Monteiro