António de Oliveira Salazar
Despite the authoritarian character of the regime, Portugal did not experience the same levels of international isolation as Spain did following World War II. Unlike Spain, Portugal under Salazar was accepted into the Marshall Plan (1947–1948) in return for the aid it gave to the Allies during the final stages of the war. Furthermore, also unlike Spain, it was one of the 12 founding members of the North Atlantic Treaty Organisation (NATO) in 1949, a reflection of Portugal's role as an ally against communism during the Cold War in spite of its status as the only non-democratic founder. In 1950, Portugal joined the European Payments Union and participated in the founding of the European Free Trade Association (EFTA) in 1960 and the Organisation for Economic Co-operation and Development in 1961. It joined the General Agreement on Tariffs and Trade in 1962, and finally, Portugal signed a free trade agreement with the European Economic Community in 1972, still under the auspices of the "Estado Novo".
Treaty of Versailles
Portugal entered the war on the Allied side in 1916 primarily to ensure the security of its African colonies, which were threatened with seizure by both Britain and Germany. To this extent, she succeeded in her war aims. The treaty recognized Portuguese sovereignty over these areas and awarded her small portions of Germany's bordering overseas colonies. Otherwise, Portugal gained little at the peace conference. Her promised share of German reparations never materialized, and a seat she coveted on the executive council of the new League of Nations went instead to Spain—which had remained neutral in the war. In the end, Portugal ratified the treaty, but got little out of the war, which cost more than 8,000 Portuguese troops and as many as 100,000 of her African colonial subjects their lives.