LISBON, Portugal - A senior Portuguese official says the government is poised to send its formal request for a bailout to European authorities.
Cabinet Minister Pedro Silva Pereira told reporters the written request would be sent to Brussels later Thursday.
He said a delegation from the European Commission and the European Central Bank is expected "very soon" in Lisbon to begin negotiating the terms of a financial rescue package.
Portugal announced late Wednesday it is following Greece and Ireland in asking for aid from Europe's bailout reserve and the International Monetary Fund.
Analysts predict debt-heavy Portugal will need up to euro80 billion (US$114 billion).
