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Portugal as a Path to Follow

1 min read

From: The Origins of European Neo-liberalism by Nicholas Mulder

The real source of neoliberalism in Europe is neither technocracy nor hegemony but a problem specific to the continent: intergovernmentalism........

While the name Lisbon connotes the triumph of the neoliberal model in Europe, it may also foreshadow a possible way out of that model’s clutches. Since November 2015, Portugal has been the only Eurozone and EU member state which has been able to combine left-wing economic and social policies with material recovery while remaining committed to European institutions. The Portuguese progressive experiment under Lisbon’s former mayor, the Socialist prime minister António Costa, illustrates one possible path for the European left: capturing power in national elections and rolling back budget cuts and privatizations, thereby boosting growth and reducing debt.