Portugal’s minority government and main opposition party have reached an agreement that will ensure the approval of a tough austerity budget, easing concern over a potential sovereign debt crisis.
Portugal's minority Socialist government and its centre-right opposition PSD reached a deal late Friday that will ensure parliament adopts an austerity budget for 2011, a PSD spokesman told AFP.
The agreement will see the PSD abstain when the budget comes up for parliamentary debate on November 3, said PSD Social Democrat party spokesman Rui Baptista.
The government needs at least a PSD abstention as all other opposition parties have said they would vote against the measure.
"There is an agreement which will be formalised on Saturday in the parliament," Baptista said.
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