Portugal bail-out: EU aims for mid-May completion
In an announcement at an EU finance ministers' meeting in Hungary, Commissioner Olli Rehn said they would have to reach cross-party agreement.
He added that he expected the bail-out package to be in the magnitude of 80bn euros ($115bn; £70bn).
He also said that he was confident that Portugal could refinance its own debt until a deal could be completed.
The formal request for financial assistance was made by Portugal at 2200 CET (2000 GMT) on Thursday.