Portugal's president Cavaco rejects early elections on 'political stability'

FXstreet.com (San Francisco) - The Portuguese president Cavaco Silva has refused to call for early elections as he sees risks on political stability. "The possibility to call for early elections would affect the next troika reviews and capacity to recover markets confidence," Cavaco stated.

The president also said that the risk of the country requesting new bailout package is still considerable. He underlines the risk of early elections as his office prepares to announce support to actual coalition.

In addition, Cavaco asked top parties to reach a medium-term deal urgently.