Bailout package offers hope for Portugal

portugal flag

Portugal has agreed to a bailout programme that will see it receive €78 billion ($115.9 billion) of financial assistance from the European Union and IMF.

On Wednesday, the European Commission said a comprehensive agreement had been struck between Portugal and officials from the European Commission, the European Central Bank (ECB) and the IMF for financial assistance. The commission said details of the plan, including the interest rate charged on the loan, were being finalised and that Portugal

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