Portugal in crisis talks as markets fall

Portugal’s president summoned the main political parties for crisis talks over the government’s future, with markets reeling on fears that a snap election could derail Lisbon’s exit from an international bailout.

President Anibal Cavaco Silva’s office said he would meet the leader of the main opposition Socialists, the premier and other parties after that. Under the constitution, he has the power to dissolve parliament and can act to mediate in political crises.

His decision came after several reports said two more ministers from the junior ruling coalition party were ready to quit and follow their CDS-PP party leader Paulo Portas who tendered his resignation as foreign minister on Tuesday.