Debt concessions for Greece less likely as Portugal's Socialist leads

London

GERMANY and other eurozone leaders are reluctant to give the Greek government concessions in the next debt repayment negotiations as they fear a rising Portuguese left wing party.

Portugal's Socialist party, which is currently leading in the polls ahead of an expected election in October, promises to reduce the burden of austerity which has been imposed by the nation's creditors.

Portugal's current government debt to gross domestic debt is 130 per cent, unemployment is 13.7 per cent and youth unemployment is a whopping 33.8 per cent. The current growth rate is only…