The euro was trading around $1.30 against the dollar during Monday afternoon trade, anticipating bleak news from any one of the zone’s troubled economies. Following Cyprus and recently Slovenia – Portugal has now appeared as the latest patient in need of potentially instant care. On Friday Portugal’s high court ruled that the country’s plans to introduce pension cuts to its public sector was unlawful thus forcing the country to cough up another 900 million euros – precondition for the bailout – to fund its pending rescue package. Unlike other sick men in Europe such as Cyprus and Spain, Portugal is a student of austerity, an economic philosophy championed and cultivated by northern European countries. However, it seems that spending cuts are not enough to keep the Western European nation afloat.