Portugal still has a mountain to climb. Public debt surpassed 120 percent of Portugal's gross domestic product in the third quarter of last year, when it was the third-highest in the European Union. State-owned companies have total debts of more than â¿¬30 billion, according to the latest figures.
Also, the financial market success stands in stark contrast to the hardship being endured by many Portuguese. The austerity measures have brought numerous strikes and street protests.