Tag Archives: 'crisis'
Portuguese President Aníbal Cavaco Silva has called on the political parties which signed the €78bn bailout agreement with the ‘troika’ of international lenders in 2011 to form a national salvation commitment, refusing to call snap elections.
The president had been expected to start meetings with representatives of parliamentary parties on Friday but the meetings have been scheduled for Monday afternoon. Cavaco Silva insists that the leader of the minority coalition CDS-PP partner must stay in the Government.
ECB’s president refused to comment the political crises but recognized the country has made a “painful root” and “achieved very remarkable results”.
After Wednesday night’s meeting, the prime minister and the resigning leader of the minority coalition party will meet again on Thursday morning before Passos Coelho meets the Portuguese President.
Pedro Passos Coelho is to be in Berlin on Wednesday at a European conference on employment, an engagement he decided to maintain despite the governmental crisis.
President Anibal Cavaco Silva is to receive the prime minister on Thursday, following the resignation of Foreign Minister Paulo Portas and then the parties with seats in parliament. On Wednesday there is to be a meeting of Portas’ party CDS-PP which is the junior coalition party.
Portuguese Prime Minister, Pedro Passos Coelho told the nation Tuesday that he would not resign and refused to accept the resignation of coalition CDS Minister of Foreign Affairs, Paulo Portas, throwing down the gauntlet for the minister to reach an agreement with the PSD majority partner for the “sake of Portugal”.
Austerity seems to have left Portugal worse off than it was before seeking out a bailout in 2011, despite the country’s successful return to the bond markets.
“The programme has already ensured a broad reaching budgetary structural readjustment and the programme ensured a return to the financial markets far earlier than foreseen,” said Vítor Gaspar.
PDV caught up with the British author and local correspondent for the Associated Press who has called Portugal home for over 25 years, sharing his insight on the country, its people and what makes it worthwhile living here despite the centuries-old crisis.