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Portugal moves to cut spending further

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Portugal moves to cut spending further

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Portugal’s president has held a special meeting with economists and former ministers on ways to further reduce public spending.

Portugal – seen by some investors as the next weak link in the euro zone after Greece – has just suspended plans to build a new airport for Lisbon and will cut back other major infrastructure projects including high speed train lines to Spain.

Spain has also said it will accelerate its austerity measures to cut the budget deficit and public debt.