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Portugal PM gives details of coalition-saving pact

Portugal's Prime Minister and leader of the Social Democrat Party, PSD, Pedro Passos Coelho, right, gives an statement next to Portugal's Foreign Minister and leader of Popular Party, CDS, Paulo Portas following their meeting in Lisbon, Saturday, July 6, 2013. Both leaders of the center-right coalition government reached an agreement after a dispute over austerity policies that left the government near the collapse this week. (AP Photo/Francisco Seco)

LISBON, Portugal (AP) -- Portugal's prime minister says he has appointed his coalition partner Paulo Portas as his deputy.

Pedro Passos Coelho says the appointment of Portas, who resigned as country's foreign minister last week, patches-up a political rift that had caused turmoil on financial markets.

The deal is still to be approved by President Anibal Cavaco Silva.

Portas' resignation precipitated a crisis that rocked European markets as the government teetered on the verge of collapse in a dispute over austerity measures.

Passos Coelho said late Saturday that Portas was given "responsibility to coordinate economic policies." Portugal received a 78 billion euro ($102 billion) sovereign bailout in 2011.