Portugal bailout deal to be $115b

LISBON, Portugal - Portugal reached a deal with the European Union and the IMF on Tuesday on a 78 billion euro ($115.9 billion) 3-year bailout, the third euro zone member to do so after Greece and Ireland, caretaker Prime Minister Jose Socrates said.

The deal will need broad cross-party support because the collapse of Socrates' government last month - pushing up borrowing rates and forcing Lisbon to seek a bailout - means the winner of a June 5 snap general election will implement it.

Opposition Social Democrat leader Pedro Passos Coelho said he was ready to meet the lenders. Any of the bailout terms that need parliamentary approval will have to be passed after the election.