The country is also sitting on a huge debt burden of 129% of GDP, the third largest in the Eurozone after Greece and Italy. A large debt burden raises the risk of another crisis down the road, especially if investors doubt the efficacy of the European Central Bank and the euro currency.

The Global X FTSE Portugal 20 ETF (NYSEArca: PGAL) is one of the better performing Europe country-specific ETFs so far this year, rising 14.0% year-to-date. [PIIGS ETFs Impress]

Global X FTSE Portugal 20 ETF

For more information on Portugal, visit our Portugal category.

Max Chen contributed to this article.

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