Portugal President to Review Coalition Deal by Prime Minister

Portugal’s PM has presented the president with what he calls an agreed “deal” to keep his coalition intact.

PM Pedro Passos Coelho says his centre-right governing partner pledged to keep supporting his government after two resignations plunged it into crisis.

The uncertainty had sent the interest rate on Portuguese 10-year bonds above 8%, before falling back to 6.8%.

Any deal would have to be approved by President Anibal Cavaco Silva, who is due to meet the parties on Monday.

The government is struggling to fulfil tough bailout conditions.

Portugal received a bailout worth more than 78bn euros ($102bn; £67bn) in May 2011, on the condition it implemented austerity measures.

via BBC

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