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Political deadlock in Portugal over bailout terms

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Political deadlock in Portugal over bailout terms

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Portugal is facing another hurdle towards the goal of ending its dependence on international funding.

The opposition Socialist party is demanding a renegotiation of the country’s bailout terms.

They say the government’s current austerity measures linked to the bailout are too extreme and not working.

The Socialists cite big tax hikes and spending cuts as the cause of a record unemployment rate of nearly 18 percent.

The lack of consensus between parties caused a delay into the review of the 78-billion euro bailout by it’s creditors.

Talks between the parties are set to continue next week.