Portugal was one of four eurozone countries that had to be bailed out during the region's debt crisis. In 2011, the country required a 78-billion-euro ($93 billion) rescue after its budget deficit grew too large and bond market investors asked for hefty premiums to lend to the government. In return for the financial lifeline, Portuguese governments had to enact a series of spending cuts and economic reforms. Portugal exited its bailout program in 2014.