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The European Union has received a formal request for tens of billions of euros in bailout assistance from debt-ravaged Portugal, EU economic affairs commissioner Olli Rehn said Friday.
“We have received the formal request of the Portuguese government for financial assistance from the European Union and the IMF (International Monetary Fund),” Rehn said on arrival for EU finance minister talks in Hungary.
“We received this formal request last night. I welcome this responsible move for the sake of financial stability,” he added.