The European Union will soon discuss the size and terms of a bail-out of Portugal after receiving a formal request for financial aid.
The EU aims to sort out a bail-out for Portugal by the middle of May. The BBC reports it will mean a deal on introducing new austerity measures will have to be made before elections are held on 5 June.
In an announcement at a meeting of EU finance ministers in Hungary, Commissioner Olli Rehn said he expected the bail-out package to be in the magnitude of 80 billion euros.
He also said that he was confident that Portugal could refinance its own debt until a deal could be completed.
Mr Rehn said that austerity measures that were defeated in the Portuguese parliament would be a starting-point for the reforms that would need to be made to secure the assistance package.
He also said that there would have to be an "ambitious privatisation programme" to reduce debt.
The government resigned last month after proposed tougher austerity measures were defeated in parliament.