Portugal govt, opposition open to more budget talks

LISBON, Oct 29 (BestGrowthStock) – Portuguese opposition Social
Democrat (PSD) leader Pedro Passos Coelho said on Friday his
party and the government are ready to renew talks to reach an
agreement to approve the 2011 budget.

“The indications that I received from the government signal
a readiness to reevaluate its position,” Passos Coelho told a
conference, adding that the PSD also stands ready to return to
negotiations.

Talks between the minority Socialist government and the PSD
on the buget collapsed on Wednesday, rasing concerns of a
political crisis that could send Portugal’s borrowing costs
higher and undermine its efforts to cut the budget deficit.

Because the Socialists rule without a majority in parliament
they need the opposition to pass the austere 2011 budget, which
goes to a first vote on Wednesday.
(Reporting by Shrikesh Laxmidas and Axel Bugge)

Portugal govt, opposition open to more budget talks