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Portugal to Emulate Ireland in Exit From Bailout Program

Portugal will follow Ireland in leaving its rescue program without seeking a precautionary credit line, the third nation to exit its bailout as the euro region rebounds from a four-year crisis.

The decision, announced in Lisbon late yesterday, follows Portugal’s first bond auction last month since requesting the 78 billion-euro ($108 billion) rescue from the European Union and the International Monetary Fund in 2011. With the program scheduled to end on May 17, euro-region finance ministers will discuss Portugal when they meet in Brussels today.