Portuguese capitalism is one of the sick men of Europe. The "cure" the capitalists have in mind involves severe attacks on wages and working conditions. But now a backlash is taking place with huge strikes and demonstrations shaking the country, which is also producing radicalisation on the left.

Friday, March 2, witnessed a huge mobilisation of the Portuguese working class with 150,000 workers on the streets of Lisbon protesting against the “centre-left” Socialist government's economic policies. Not since the glorious days of the revolution of the 1970s have we seen such a mobilisation.

"Capitalism is dead in Portugal" wrote the Times in 1975. And yet today it lives. How was it able to survive? What lessons can we learn from the Portuguese Revolution of 1974?

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