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Portugal to Formalize Aid Request, Help Seen by June
Portugal will formalize its request on Thursday for a European Union rescue package that could reach 85 billion euros ($122 billion) and a deal could be reached before a June 5 election, officials said. After a renewed battering from financial markets sparked by a political crisis, Lisbon's caretaker government decided on Wednesday to seek foreign aid, becoming the third euro zone country to do so after Greece and Ireland.