Portuguese markets in turmoil as government teeters

LISBON, Portugal • Portugal’s government teetered on the brink of collapse Wednesday, sending financial markets around Europe into a tailspin and reigniting concerns about the euro area’s strategy for dealing with its prolonged financial crisis. Prime Minister Pedro Passos Coelho defied calls to resign late Tuesday but he was running out of options to keep his center-right coalition government together following the back-to-back resignations this week of two key ministers in a spat over austerit...

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