The Bank of Portugal warned on Tuesday that the country might need substantial new austerity measures to ensure it can meet budget reduction targets.

BBC: Portugal and Greece downgraded on debt worries

On joining the euro, the central-bank governor promised (with disarming modesty) that the position of Portugal inside the single currency would be like Mississippi's in the United States: imbalances that led to an IMF bail-out in 1977 and again in 1983 would be a thing of the past.

ECONOMIST: Portugal and the euro

Contador will compete for his new Saxo Bank team in the Tour of Algarve, a five-stage race through southern Portugal.

BBC: Spanish rider Alberto Contador cleared of doping charge

He's been desperately trying to ease up on the central bank's expensive daily support buying of weak eurozone countries' debt - notably that of Portugal.

BBC: Eurozone leaders to begin crucial bail-out fund talks

Many observers believe that Sonangol was already acting as a sovereign wealth fund by investing its profits in many areas outside of the oil industry -- including buying up key stakes in Portugal's biggest bank by assets, Millennium BCP.

CNN: Oil-rich Angola bids to secure future with $5bn wealth fund

The European Central Bank and the EFSF, the fund set up to prevent exactly this sort of disaster in Greece, Ireland and Portugal.

FORBES: The Euro Rescue Isn't Going to Work

Germany is also the home to the European Central Bank and the biggest national creditor to indebted nations within the eurozone such as Greece, Portugal and Ireland all of which would make Germany's exit from the eurozone logistically difficult.

BBC: Soros calls for Germany to 'lead or leave euro'