Portugal’s president opts for deal keeping coalition government in power + MORE Jul 21st

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5.5 year – 2.70%

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This GIC rate is offered by Outlook Financial and was updated on 2013-03-14. Click on the link above to get more details or apply online.

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4.5 year – 2.45%

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This GIC rate is offered by Outlook Financial and was updated on 2013-03-14. Click on the link above to get more details or apply online.

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LISBON, Portugal – Portugal’s president has accepted a compromise reached by the coalition government that allows it to stay in power, defusing a crisis that had roiled financial markets.
In an address to the nation, President Anibal Cavaco Silva ruled out early elections, opting for “the best alternative” which is “the continuation in office of the current government.”
The coalition nearly split July 2 when Foreign Minister Paulo Portas, the leader of the junior party, threatened to resign.
A compromise was reached within the coalition when Portas was appointed deputy to Prime Minister Pedro Passos Coelho, but this step required the president’s agreement, which he gave late Sunday.
The political dispute had raised fears that Portugal would be unable to abide by the terms of its 78 billion euros ($102 billion) international bailout.
The post Portugal’s president opts for deal keeping coalition government in power appeared first on Canadian Business.

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Canadian cities, take note of Detroit's downfallCanada’s municipalities may be unlikely to face the same fate as Detroit, which became the largest U.S. city to file for bankruptcy, but the financial fall of Motor City carries lessons for towns and cities here, experts say.

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