RPT-Portugal President Cavaco Silva to make statement late Wednesday

Wed Jul 10, 2013 7:52am EDT

LISBON, July 10 (Reuters) - Portugal's President Anibal Cavaco Silva will make a televised statement at 1930 GMT on Wednesday after concluding meetings with political parties and lobby groups to end a political crisis in the ruling coalition, a presidency spokesman said.

Prime Minister Pedro Passos Coelho has proposed promoting Paulo Portas, who leads the junior CDS-PP partner in the coalition, to become his deputy and resolve a rift that has threatened to derail Lisbon's progress under a bailout.

"The president's statement will certainly be to respond to the proposed solution for the government," the spokesman said.

Cavaco Silva has the power to dissolve parliament and call a snap election but most analysts expect he will approve Passos Coelho's proposal to guarantee political stability.