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Last updated: July 06. 2013 7:38AM - 352 Views
Associated Press



Portugal's Prime Minister Pedro Passos Coelho arrives for a weekly meeting with Portugal's President Anibal Cavaco Silva, not pictured, at the Belem presidential palace, in Lisbon, Thursday, July 4, 2013. Portugal's governing coalition parties have held urgent talks in a bid to resolve differences over crushing austerity policies that have pushed the government to the brink of collapse. Ahead of the talks Thursday, investors eased up the pressure. The interest yield on Portugal's benchmark 10-year bond slipped back 0.28 percentage points to 7.04 percent. (AP Photo/Francisco Seco)
Portugal's Prime Minister Pedro Passos Coelho arrives for a weekly meeting with Portugal's President Anibal Cavaco Silva, not pictured, at the Belem presidential palace, in Lisbon, Thursday, July 4, 2013. Portugal's governing coalition parties have held urgent talks in a bid to resolve differences over crushing austerity policies that have pushed the government to the brink of collapse. Ahead of the talks Thursday, investors eased up the pressure. The interest yield on Portugal's benchmark 10-year bond slipped back 0.28 percentage points to 7.04 percent. (AP Photo/Francisco Seco)
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(AP) Portuguese party leaders say a rift that threatened to bring down the government and caused turmoil on financial markets has been patched up with details of the coalition-saving pact to be announced Saturday.


The crisis was triggered by the resignation of two government ministers, and an accord was hammered out and presented to President Anbal Cavaco Silva late Friday, Popular Party spokesman Nuno Melo says.


Melo says the proposal "guarantees government stability" and says coalition leaders would later make a joint statement. He says the deal enables Portugal, which agreed a 78 billion euro ($102 billion) sovereign bailout, "to face future challenges."


The political instability rocked European financial markets during the week as the government teetered on the verge of collapse in a dispute over austerity measures.


Associated Press
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