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12 Jul 2013
Portugal slides deeper into political crisis
FXstreet.com (Barcelona) - The political crisis in Portugal intensified, forcing the country's government to ask its international creditors to postpone the next review of the bailout program. The yield on the Portuguese benchnmark 10-year bond yield spiked to 7.08% in on Friday.
Prime Minister Paolo Passos Coelho assured today in Lisbon that he is willing to reach a consensus with his coalition partner and opposition Socialists, as the country's President Anibal Cavaco Silva proposed in a speech on Wednesday. PM Coelho's earlier plan to reshuffle the cabinet failed to gain the President's support.
Nevertheless, Socialist leader Antonio Jose Seguro told parliament today that although ready to take part in efforts to resolve the crisis situation, his party would not join the current coalition government.
Prime Minister Paolo Passos Coelho assured today in Lisbon that he is willing to reach a consensus with his coalition partner and opposition Socialists, as the country's President Anibal Cavaco Silva proposed in a speech on Wednesday. PM Coelho's earlier plan to reshuffle the cabinet failed to gain the President's support.
Nevertheless, Socialist leader Antonio Jose Seguro told parliament today that although ready to take part in efforts to resolve the crisis situation, his party would not join the current coalition government.