Recently, the bourgeois media, particularly in Europe, has been delighting in the “miraculous” turnaround of Portugal’s fortunes. Just seven years ago, the Portuguese economy was teetering on the brink. The country was heading for the kind of social upheaval that caused a pre-revolutionary situation in Greece, and led to an enormous mass movement in neighbouring Spain.

With just a few weeks in office, the Socialist Party (PS) government of Portugal has orchestrated yet another scandal in its history, with the main protagonist being the bankrupt bank “Banco Internacional do Funchal SA” (Banif).

Yesterday evening, 10th of November, the 11-day old government of the right-wing coalition in Portugal was ousted by the left-wing parties in parliament. On the day, the CGTP, the biggest trade union, called for a demonstration to take place outside parliament while discussion on the program presented by the minority government was taking place. I happened to be there on the day to experience the mood of the people: it was vibrant, joyful and promising. They had won a first battle.

Portuguese politics have become very interesting in recent weeks. The parliamentary elections of October 4th saw a shift to the left in society that reflects the discontent and radicalisation sowed by the crisis of capitalism in one of the countries that has been hardest hit by it.

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