Sounds like it may be the Valve guides, if it not a major problem for you keep driving until you have money to fix it. Keep an eye on the oil level at every gas fill up, top the oil off as necessary. Watch the water level to make sure that it is not the head gasket and what you are seeing is...
Most cars in Europe are small, Small Car = Small engine. You cannot fit a 426 Horsepower V-8 into a small car and expect it to to fit for one or and good mileage.