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On the fifth day of meetings between the country’s three main parties, the PS, PSD and CDS-PP, hopes are fading of reaching a deal over how to implement President Aníbal Cavaco Silva’s July 10 call for “national salvation”.

The president urged the parties to agree a deal to allow the country to return to the financial markets in 2014 and hold early elections in the same year.

The socialist PS reject the government's proposals to cut public spending and Prime Minister Pedro Passos Coelho and his centre-right PSD party refuse to agree to the 2014 poll.

Diário Económico concludes that

there is no agreement on national salvation, austerity and growth and the president will have to ‘approve’ Coelho and Paulo Portas’s new government or condemn the country to early elections.