Could Portugal survive a Spanish military invasion?

What if Spain wanted to rekindle some of the centuries old animosities against Portugal and launched an invasion into its neighbor?
Could Portugal survive? And what would become of the Azores and Canary islands?

Image elements used in the thumbnail:
Lockheed F-16A Fighting Falcon, Portugal - Air Force AN1088466
Photo by Mike Freer - Touchdown-aviation [GFDL 1.2 (http://www.gnu.org/licenses/old-licenses/fdl-1.2.html) or GFDL 1.2 (http://www.gnu.org/licenses/old-licenses/fdl-1.2.html)]

Typhoon - RIAT 2006 (altered)
Photo by Tim Felce / CC BY-SA (https://creativecommons.org/licenses/by-sa/4.0)

Music by Matija Malatestinic http://www.malatestinic.com

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