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12 Jul 2013
Portuguese 10-year yield back below 7%
FXstreet.com (Barcelona) - Portuguese 10-year bond yields continued climbing on Friday, reaching a high of 7.9% in the Euopean afternoon, before they dipped back to 6.68%, amid the intensifying political crisis in the country.
The two Portuguese government parties and the opposition Socialists are continuing talks, trying to reach an agreement which would assure “the governability of the country, the sustainability of public debt and the control of external accounts,” as requested by the country's president Anibal Cavaco Silva. In case of a failure to strike a deal an early election would be called next year.
The head of Portugal's junior coalition party Paulo Portas urged those taking part in the talks to join forces in order to overcome the crisis as “the main priority is to regain (financial) independence and conclude, without delay, the period of financial assistance.”
Earlier on Friday Socialist party leader Antonio Jose Seguro called for a renegotiation the of the Portuguese bailout conditions. He said that austerity should be relaxed and should be emphasis put on boosting growth and employment.
The two Portuguese government parties and the opposition Socialists are continuing talks, trying to reach an agreement which would assure “the governability of the country, the sustainability of public debt and the control of external accounts,” as requested by the country's president Anibal Cavaco Silva. In case of a failure to strike a deal an early election would be called next year.
The head of Portugal's junior coalition party Paulo Portas urged those taking part in the talks to join forces in order to overcome the crisis as “the main priority is to regain (financial) independence and conclude, without delay, the period of financial assistance.”
Earlier on Friday Socialist party leader Antonio Jose Seguro called for a renegotiation the of the Portuguese bailout conditions. He said that austerity should be relaxed and should be emphasis put on boosting growth and employment.