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Portugal in Ruins: From “Europe†to Crisis and Austerity

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  • Samuel Weeks

Abstract

This article engages the analyses of Poulantzas, Anderson, and Ferreira do Aramal to outline the main politico-economic contours of post-Carnation Revolution Portugal. The account that follows examines the effects of accession to the European Economic Community (EEC), European Union (EU) structural funding and liberalization policies, and the euro currency. The article concludes by situating the troika’s 2011 “rescue†of the Portuguese state—and the accompanying austerity measures—within the post-1974 process of “Europeanization.â€

Suggested Citation

  • Samuel Weeks, 2019. "Portugal in Ruins: From “Europe†to Crisis and Austerity," Review of Radical Political Economics, Union for Radical Political Economics, vol. 51(2), pages 246-264, June.
    • Handle: RePEc:sae:reorpe:v:51:y:2019:i:2:p:246-264
    DOI: 10.1177/0486613418776693
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    References listed on IDEAS

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    1. Maria Petmesidou & Ana M. Guillén, 2014. "Can the Welfare State as We Know It Survive? A View from the Crisis-Ridden South European Periphery," South European Society and Politics, Taylor & Francis Journals, vol. 19(3), pages 295-307, July.
    2. Antônio Albano de Freitas, 2017. "Neoliberalism, Profitability, and the Crisis in the Eurozone," Review of Radical Political Economics, Union for Radical Political Economics, vol. 49(3), pages 410-429, September.
    3. Ricardo Reis, 2013. "The Portugese Slump and Crash and the Euro Crisis," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 44(1 (Spring), pages 143-210.
    4. João Rodrigues & Ana C. Santos & Nuno Teles, 2016. "Semi-peripheral financialisation: the case of Portugal," Review of International Political Economy, Taylor & Francis Journals, vol. 23(3), pages 480-510, May.
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    Keywords

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    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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