Take a close look at some of the bonuses (Azores and Portugal at the top). Am i missing something and this is actually totally fair? Because i can't see how it could...
Player in Slot O will start with an income of 700, making the smallest country with the least borders (one, lol) the most powerful. And there is no information about this fact in the description. I saw diplo games where someone gave himself some kind of powerful key position (King of England, for example), but that was always clearly stated. Here nothing is stated.
700 does seem a bit high, but if you consider that the Azores are part of Portugal and therefore a European nation it makes sense that it would be powerful.