Portugal govt, opposition reach agreement on budget

LISBON, Oct 30 (BestGrowthStock) – Portugal’s minority Socialist
government and opposition Social Democrats (PSD) have reached an
agreement on the 2011 budget, which they will sign on Saturday,
the finance ministry said.

The agreement comes after weeks of escalating fears that
Portugal would fail to enact an austere 2011 budget and spark a
political crisis in one of the euro zone’s weakest members.

Brussels, investors and Portugal’s big banks have piled
pressure on the government and PSD to reach an agreement and
prevent another potential debt crisis in the euro zone.

“The agreement will be signed today at 1100 in parliament,”
a finance ministry spokeswoman said.
(Reporting by Axel Bugge; Editing by Louise Ireland)

Portugal govt, opposition reach agreement on budget