LISBON, July 10 (Xinhua) -- Portuguese President Anibal Cavaco Silva on Wednesday urged leading political parties reach a consensus on preparing early elections in June next year as part of a "national salvation" deal when Portugal exits from a bailout program of international lenders.
In a nationwide televised speech, he called on three leading parties -- the Socialist Democratic Party (PSD), the Socilalist Party (PS) and the People's Party (CDS-PP) -- to work towards a consensus aimed at "national salvation" and the holding of early elections when the bailout program expires in June next year.
He said the current coalition government had every reason to remain in power until the elections.
"In a context of financial restrictions, the recent political crisis has shown everyone the country urgently needs a medium-term deal among the parties that subscribed to the troika memorandum of understanding," he said.
A medium-term commitment to political and financial stability was key to Portugal's regaining credibility with investors, he said.
Portugal was plunged into a severe political crisis since it received bailout from the troika comprising the European Union, the International Monetary Fund and the European Central Bank two years ago.
Foreign Minister Paulo Portas resigned on July 2 for his opposition to the appointment of former State Secretary of Treasury Maria Luis Albuquerque as new financial minister to replace Vitor Gaspar who stepped down the previous day.
The resignation of the two key ministers plunged the country into a political crisis as the coalition government of PSD and CDS- PP was left at the risk of collapse.
To keep the coalition from falling apart, Prime Minister Pedro Passos Coelho, leader of PSD and Portas, who heads the junior partner CDS-PP, reached an agreement after negotiations.
Passos Coelho announced Saturday that Portas will stay in the government and be assigned with greater responsibility as deputy prime minister in charge of economic affairs besides dealing with international lenders.
Portas has been in odds with the coalition government over its tough austerity measures, the reduction of pension in particular, under a 78-billion-euro bailout agreement with international lenders of the troika.
The government implementation of harsh austerity measures has triggered outrages among the Portuguese people who frequently took to the streets in protest against the government, which is blamed for deepening economic recession in Portugal in the past years.
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