Portugal seeks to calm investors over risks that Greek crisis might destabilize its markets

Economic Indicators Associated Press

As tensions rise over Greece's financial fate amid a wrangle with its creditors, Portuguese officials are scrambling to reassure investors that Portugal is safe from any possible market turbulence.

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Athens still has no deal with creditors to ensure it avoids default and stays in the 19-country eurozone, which includes Portugal.

Some analysts view Portugal, which like Greece needed a bailout during the recent financial crisis, as vulnerable to market jitters because its recovering economy remains feeble.

But Prime Minister Pedro Passos Coelho told an investor conference late Tuesday that "if something bad happens to Greece, Portugal won't be the next to fall."

He said the Portuguese Treasury has enough money to see it through the end of the year if investors once again become nervous about lending amid eurozone uncertainty.