Portugal
A revolution subsequently dislodged Portugal's ancient monarchy; it became a republic, and in 1933 a dictatorship under Salazar. Democracy was established in 1976. Portugal has not been alone as a country in going bankrupt. Recently the bankruptcy is most likely to be technical rather than actual, since the International Monetary Fund (IMF) now steps in to ease the debt situation. However, at least 83 countries in the past 200 years have gone actually or technically bankrupt, including: the U.S., Germany, Japan, the U.K., Ecuador, Venezuela, Brazil, Costa Rica, Uruguay, Argentina, Greece, Denmark, France, and Spain.