Portuguese parties set to debate govt. future

PanARMENIAN.Net - Portugal’s governing coalition parties are to hold urgent talks in a bid to resolve differences over crushing austerity policies that have pushed the government to the brink of collapse, The Associated Press reports.

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.

Though the rate is still far above the 5.23 percent it reached in May, it’s way down on the 9.77 percent it was at the same time last year.

Paulo Portas, the leader of the junior Popular Party, will meet with Prime Minister Pedro Passos Coelho to seek a solution and avoid fresh elections.

Portas resigned Tuesday as foreign minister, throwing the coalition into disarray.