Has Portugal lost its appetite for reform?

Celebrated among Europe’s elite as a model of how to reform an economy after a debt binge, Portugal’s enthusiasm for change has waned as Europe loses its appetite for further belt-tightening.

With Greece’s future in the euro uncertain, after its leftist government all but tore up a reform-for-aid deal, Europe’s policy setters are putting an extra shine on other countries that were bailed out — in part to avoid a spillover.

They have declared Portugal, following on the heels of Ireland, a recovery success story after a debt crisis that started with a financial crash and drove countries from Greece to Ireland to the brink of bankruptcy.