Portugal President Cavaco Silva to make statement late Wednesday

Reuters News
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Posted: Jul 10, 2013 7:48 AM

LISBON (Reuters) - Portugal's President Anibal Cavaco Silva will make a televised statement at 3:30 p.m. EDT on Wednesday after concluding meetings with political parties and lobby groups to end a political crisis in the ruling coalition, a presidency spokesman said.

Prime Minister Pedro Passos Coelho has proposed promoting Paulo Portas, who leads the junior CDS-PP partner in the coalition, to become his deputy and resolve a rift that has threatened to derail Lisbon's progress under a bailout.

"The president's statement will certainly be to respond to the proposed solution for the government," the spokesman said.

Cavaco Silva has the power to dissolve parliament and call a snap election but most analysts expect he will approve Passos Coelho's proposal to guarantee political stability.

(Reporting by Daniel Alvarenga, writing by Shrikesh Laxmidas, editing by Axel Bugge)