Thursday, 4 July 2013
Portugal battles to ease crisis and market pressure
Portugal's Prime Minister has spent a day of talks aimed at shoring up his coalition, reeling after the resignations of two senior ministers. Pedro Passos Coelho is anxious to keep his conservative partners on board, to defuse a political crisis and avoid the turmoil of an early election. President Anibal Cavaco Silva today met Mr Passos Coelho and other political leaders. His coalition is under immense pressure to stick to the tough targets dictated by Portugal's bailout. Left-wing opposition parties are demanding early elections, and opinion polls suggest the ruling Conservative party would do badly. The crisis began on Monday with the resignation of the Finance Minister, Vitor Gaspar. Demonstrators have taken to the streets in the last few days to protest against planned austerity reforms. Portugal has been in recession for two years.
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