Via Business Insider:

Portugal’s Prime Minister, Jose Socrates, just admitted his country has asked the European Union for financial aid. He says the decision was “inevitable.” While it has yet to be confirmed, this is likely the beginning of a long process in which Portugal will receive a bailout via the European Financial Stability Fund. It could also be a more temporary aid package. No information on exactly how large the bailout could be. It is unknown who will negotiate the deal, as Portugal is set to hold elections in June, and the government has technically broken up.

Cue hemlock jokes.