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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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza