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1 major currency
Englisch-Deutsch Fachwörterbuch der Wirtschaft > major currency
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2 major currency
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3 major currency
Деловая лексика: основная валюта -
4 major currency
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5 major currency
x. 주요 통화(달러, 마르크, 엔 등) -
6 currency
n ком. 1. валюта; гроші; 2. грошовий обіг; a валютний1. грошова одиниця будь-якої країни; ♦ напр.: українська гривня, американський долар, євро тощо; грошові знаки, що крім монет і банкнот включають чеки (cheque), векселі (bill of exchange), прості векселі (promissory note) тощо; 2. рух грошей у процесі виробництва, розподілу й обміну суспільного продукту і перерозподілу національного доходу; ♦ здійснюється через готівкові та безготівкові розрахунки═════════■═════════accounting currency валюта розрахунку; adjustable currency еластичний грошовий обіг • обіг, який автоматично пристосовується до потреб торгівлі; agreement currency клірингова валюта • міжнародний кліринг; appreciated currency переоцінена валюта • валюта із завищеним курсом • валюта, яка подорожчала; article 8 currency валюта статті 8 • валюта, яка вільно конвертується; automatic currency грошовий обіг • еластичний грошовий обіг • обіг, який автоматично пристосовується до потреб торгівлі; base currency базова валюта • валюта, відносно якої котируються інші валюти; blocked currency блокована валюта; cheap currency валюта з низькою купівельною спроможністю; common currency спільна валюта; continental currency валюта країн континентальної Європи; controlled currency регульована валюта; convertible currency конвертована валюта; counterfeit currency підроблена валюта • фальшиві гроші; credit currency кредитні гроші • валюта кредиту; decimal currency десяткова грошова система; deposit currency гроші банківського обороту • гроші на депозиті • депоновані гроші; depreciated currency знецінена валюта; depreciating currency валюта, яка знецінюється; devalued currency знецінена валюта; domestic currency місцева валюта • валюта даної країни; double currency подвійна валюта; elastic currency еластичний грошовий обіг • обіг, який автоматично пристосовується до потреб торгівлі; emergency currency платіжні кошти, які випускаються під час фінансової кризи; Eurocurrency; falling currency валюта, вартість якої знижується; fiat currencyies валюти, не забезпечені золотом; fiduciary currency гроші, не забезпечені металевим резервом; fluctuating currency валюта, курс якої коливається; forced currency гроші з примусовим курсом; foreign currency іноземна валюта • девізи; fractional currency розмінна монета • дрібні гроші; free currency вільно конвертована валюта; freely convertible currency вільно конвертована валюта; freely floating currency валюта з курсом, який вільно коливається; fully convertible currency вільно конвертована валюта; functional currency функціональна валюта; general asset currency банкноти без спеціального забезпечення; gold currency золота монета; green currency «зелена валюта»; hand-to-hand currency вільна готівка; hard currency тверда валюта; home currency місцева валюта; inconvertible currency валюта, яка не конвертується • неконвертована валюта; international currency міжнародна валюта; irredeemable currency неконвертована валюта; jointly floating currency валюта, курс якої коливається спільно з іншою валютою; key currency ключова валюта; lawful currency законна валюта • законні платіжні кошти; leading currency ключова валюта; local currency місцева валюта • локальна валюта; major currencyies основні валюти; managed currency регульована валюта; metallic currency металеві гроші; mixed currency змішана грошова система; national currency національна валюта; nonconvertible currency неконвертована валюта; overvalued currency валюта із завищеним курсом; paper currency паперові гроші • банкноти • обіг кредитних документів; pegged currency валюта, курс якої прив'язаний до валюти іншої країни; reference currency валюта, на якій базується валютне застереження • валюта, що служить як стандарт; regulated currency регульована валюта; reporting currency валюта звітності • валюта, в якій складається звіт; reserve currency резервна валюта; revalued currency переоцінена валюта; shaky currency нестійка валюта; silver currency срібні гроші; soft currency неконвертована валюта; sound currency тверда валюта; standard currency стандартна валюта; trading currency ключова валюта • оборотна валюта; transaction currency валюта розрахунку • валюта операцій; treasury currency гроші скарбниці; undervalued currency валюта із заниженим курсом; unstable currency нестійка валюта; vehicle currency ключова валюта; wildcat currency банкноти спекулятивних банків═════════□═════════conversion of currency конверсія валюти; currency account валютний рахунок; currency adjustment factor (CAF) коефіцієнт вивіреного валютного курсу; currency appreciation подорожчання валюти; currency area валютна зона; currency auction валютний аукціон; currency band межа коливання валютного курсу; currency barrier валютний бар'єр; currency basket валютний кошик; currency broker валютний брокер • валютний маклер; currency circulation грошовий обіг; currency clause валютне застереження; currency clearing валютний кліринг; currency code валютний код; currency compensation валютна компенсація; currency contract валютний контракт; currency convertibility конвертованість валюти; currency council валютна рада; currency dealing валютна операція; currency depreciation здешевлення валюти • знецінення валюти • девальвація валюти; currency devaluation девальвація валюти; currency earnings валютні надходження; currency exchange receipt квитанція обміну валюти; currency exchange regulation контроль обміну валюти; currency hedging страхування валютного курсу • хеджування валюти; currency in circulation паперові гроші й монети в обігу • грошова маса в обігу; currency market валютний ринок; currency movement коливання курсів валюти; currency of an account валюта рахунка; currency of borrowing валюта позики; currency of a contract валюта контракту; currency of credit валюта кредиту; currency of payment валюта платежу; currency option валютний опціон; currency option transaction операція валютного опціону; currency parity валютний паритет; currency pegged to the dollar валюта, курс якої прив'язаний до долара; currency policy валютна політика; currency purchase купівля валюти; currency ration квота обміну валюти; currency realignment вирівнювання валютних курсів; currency reform грошова реформа; currency regime валютна система; currency reserves запаси валюти; currency restriction валютне обмеження; currency risk валютний ризик; currency shortage брак валюти • нестача валюти; currency smuggling контрабандне перевезення валюти; currency speculation валютна спекуляція; currency statistics статистика грошового обігу; currency transaction валютна операція; currency unit валютна одиниця; to back the currency забезпечувати/забезпечити валюту • підтримувати/ підтримати валюту; to compute in currency обраховувати/обрахувати у валюті; to conserve on foreign currency зберігати/зберегти іноземну валюту; to control currency регулювати валюту; to convert currency конвертувати валюту; to debase currency знецінювати/ знецінити валюту; to depreciate currency знецінювати/знецінити валюту; to devaluate currency девальвувати валюту • знецінювати/знецінити валюту; to devalue currency девальвувати валюту • знецінювати/знецінити валюту; to dump currency викидати/викинути валюту на ринок; to exchange currency обмінювати/обміняти валюту; to pay in currency платити/заплатити валютою; to transfer currency переносити/перенести валюту -
7 currency
n1) валюта, деньги
- accounting currency
- adjustable currency
- agreed currency
- agreement currency
- anchor currency
- appreciated currency
- article eight currency
- automatic currency
- base currency
- blocked currency
- cheap currency
- cheque currency
- clearing currency
- collective currency
- common currency
- controlled currency
- convertible currency
- convertible in gold currency
- counterfeit currency
- credit currency
- dealt currency
- decimal currency
- deposit currency
- depreciated currency
- depreciating currency
- devalued currency
- domestic currency
- double currency
- elastic currency
- emergency currency
- exotic currency
- exporter's currency
- falling currency
- fiat currencies
- fiduciary currency
- floating currency
- fluctuating currency
- forced currency
- foreign currency
- fractional currency
- free currency
- freely convertible currency
- freely floating currency
- full-bodied currency
- fully convertible currency
- functional currency
- general asset currency
- gold currency
- green currency
- hand-to-hand currency
- hard currency
- home currency
- importer's currency
- inconvertible currency
- inflated currency
- international currency
- intervention currency
- irredeemable currency
- jointly floating currency
- key currency
- lawful currency
- leading currency
- local currency
- major currencies
- managed currency
- metallic currency
- mixed currency
- national currency
- nonconvertible currency
- overvalued currency
- paper currency
- partially convertible currency
- pegged currency
- permitted currencies
- quotation currency
- redeemable in gold currency
- reference currency
- regulated currency
- reporting currency
- reserve currency
- revalued currency
- scarce currency
- settled currency
- shaky currency
- silver currency
- single currency
- small denomination currency
- soft currency
- sound currency
- splinter currency
- stable currency
- standard currency
- third-country currency
- trading currency
- transaction currency
- treasury currency
- undervalued currency
- unstable currency
- vehicle currency
- volatile currency
- currency in circulation
- currency of account
- currency of a bill
- currency of clearing
- currency of a contract
- currency of credit
- currency of exchange clause
- currency of money
- currency of payment
- currency of price
- currency pegged to the dollar
- appreciate currency
- back currency
- compute in currency
- control currency
- convert currency
- debase currency
- deposit currency
- depreciate currency
- devalorize currency
- devaluate currency
- devalue currency
- dump currency
- earn currency
- exchange currency
- express in currency
- manage currency
- pay in currency
- prop up currency
- purchase currency
- realize for foreign currency
- regulate currency
- remit currency
- revalorize currency
- revalue currency
- sell for foreign currency
- transfer currency from one account to another
- transfer currency to an accountEnglish-russian dctionary of contemporary Economics > currency
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8 currency
1) валюта, денежная единица2) деньги в обращении, денежные инструменты• -
9 currency
n2) деньги; валюта•to appreciate the currency — повышать курс валюты, ревальвировать валюту
to depreciate the currency by... per cent — девальвировать / обесценивать валюту на... процентов
- common currencyto devalue the currency — девальвировать / обесценивать валюту
- conversion of currencies
- convertible currency
- crashing currency
- currency firmed
- currency has lost value
- currency in circulation
- decline of a currency
- depreciated currency
- devaluation of currencies
- domestic currency
- earner of foreign currency
- floating currency
- foreign currency
- free currency
- freely floating currency
- hard currency
- home currency
- imposition of a single currency
- in local currency
- inconvertible currency
- inflationary depreciation of currencies
- inflow of foreign currency
- international unit of currency
- key currency
- leading currencies
- local currency
- main source of hard currency
- major currencies
- managed currency
- member of the single currency
- national currency
- native currency
- nearly worthless currency
- nonconvertible currency
- overvalued currency
- paper currency
- pegged currency
- reserve currency
- reserves of foreign currency are low
- revolution of currencies
- sharp fall in the value of a currency
- shortage of hard currency
- single European currency
- soft currency
- sound currency
- stabilization of currency
- undervalued currency
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10 currency
noun1) (money) Währung, dieforeign currencies — Devisen Pl.
2) (other commodity) Zahlungsmittel, das3) (prevalence) (of word, idea, story, rumour) Verbreitung, die; (of expression) Gebräuchlichkeit, die* * *American - currencies; noun(the money (notes and coins) of a country: the currencies of the world; foreign currency.) die Währung* * *cur·ren·cy[ˈkʌrən(t)si, AM ˈkɜ:r-]nthe world's major currencies die wichtigsten Währungen der Welt\currency declaration Deklaration f des mitgeführten Bargelds\currency of a euro-participating country EU Teilnehmerwährung fblocked \currency nicht frei konvertier- und transferierbare Währungfree \currency frei konvertierbare Währunghard/soft \currency harte/weiche Währunglawful \currency gesetzliches Zahlungsmittelbilateral conversion rates between participating currencies EU bilaterale Kurse zwischen den Teilnehmerwährungento buy/sell a \currency Geld [einer anderen Währung] kaufen/verkaufento exchange \currency Geld [um]tauschen[foreign] \currency Devisen pl, Valuta plto enjoy wide \currency weit verbreitet seinto have \currency verbreitet [o geläufig] sein* * *['kʌrənsI]nforeign currency — Devisen pl
2) Verbreitung f; (of word, expression) Gebräuchlichkeit fto gain currency — sich verbreiten, um sich greifen
to give currency to a rumour/theory — ein Gerücht/eine Theorie verbreiten or in Umlauf setzen
* * *1. Umlauf m, Zirkulation f:give currency to a rumo(u)r ein Gerücht in Umlauf setzen oder verbreiten;gain currency sich (immer mehr) verbreiten2. a) (Allgemein)Gültigkeit f, allgemeine Geltungb) Gebräuchlichkeit f, Geläufigkeit f (eines Worts etc)c) Verbreitung f (einer Nachricht etc)3. WIRTSCHa) Geldumlauf mb) umlaufendes Geldc) Zahlungsmittel pld) Devisen ple) Währung f4. WIRTSCH Laufzeit f (eines Wechsels, auch eines Vertrags etc), Gültigkeitsdauer fcur. abk2. current* * *noun1) (money) Währung, dieforeign currencies — Devisen Pl.
2) (other commodity) Zahlungsmittel, das3) (prevalence) (of word, idea, story, rumour) Verbreitung, die; (of expression) Gebräuchlichkeit, die* * *n.Umlauf -¨e m.Währung -en f.Zahlungsmittel n. -
11 currency
cur·ren·cy [ʼkʌrən(t)si, Am ʼkɜ:r-] nthe world's major currencies die wichtigsten Währungen der Welt;\currency declaration Deklaration f des mitgeführten Bargelds;to buy/sell a \currency Geld [einer anderen Währung] kaufen/verkaufen;to exchange \currency Geld [um]tauschen;[foreign] \currency Devisen pl, Valuta plto enjoy wide \currency weit verbreitet sein;to have \currency verbreitet [o geläufig] sein -
12 major european currency
English-Russian big medical dictionary > major european currency
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13 major european currency
Деловая лексика: основная европейская валютаУниверсальный англо-русский словарь > major european currency
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14 major european currency
Англо-русский экономический словарь > major european currency
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15 exotic currency
Englisch-Deutsch Fachwörterbuch der Wirtschaft > exotic currency
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16 market
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17 Chronology
15,000-3,000 BCE Paleolithic cultures in western Portugal.400-200 BCE Greek and Carthaginian trade settlements on coast.202 BCE Roman armies invade ancient Lusitania.137 BCE Intensive Romanization of Lusitania begins.410 CE Germanic tribes — Suevi and Visigoths—begin conquest of Roman Lusitania and Galicia.714—16 Muslims begin conquest of Visigothic Lusitania.1034 Christian Reconquest frontier reaches Mondego River.1064 Christians conquer Coimbra.1139 Burgundian Count Afonso Henriques proclaims himself king of Portugal; birth of Portugal. Battle of Ourique: Afonso Henriques defeats Muslims.1147 With English Crusaders' help, Portuguese seize Lisbon from Muslims.1179 Papacy formally recognizes Portugal's independence (Pope Alexander III).1226 Campaign to reclaim Alentejo from Muslims begins.1249 Last Muslim city (Silves) falls to Portuguese Army.1381 Beginning of third war between Castile and Portugal.1383 Master of Aviz, João, proclaimed regent by Lisbon populace.1385 April: Master of Aviz, João I, proclaimed king of Portugal by Cortes of Coimbra. 14 August: Battle of Aljubarrota, Castilians defeated by royal forces, with assistance of English army.1394 Birth of "Prince Henry the Navigator," son of King João I.1415 Beginning of overseas expansion as Portugal captures Moroccan city of Ceuta.1419 Discovery of Madeira Islands.1425-28 Prince D. Pedro, older brother of Prince Henry, travels in Europe.1427 Discovery (or rediscovery?) of Azores Islands.1434 Prince Henry the Navigator's ships pass beyond Cape Bojador, West Africa.1437 Disaster at Tangier, Morocco, as Portuguese fail to capture city.1441 First African slaves from western Africa reach Portugal.1460 Death of Prince Henry. Portuguese reach what is now Senegal, West Africa.1470s Portuguese explore West African coast and reach what is now Ghana and Nigeria and begin colonizing islands of São Tomé and Príncipe.1479 Treaty of Alcáçovas between kings of Portugal and Spain.1482 Portuguese establish post at São Jorge da Mina, Gold Coast (now Ghana).1482-83 Portuguese navigator Diogo Cão reaches mouth of Congo River and Angola.1488 Navigator Bartolomeu Dias rounds Cape of Good Hope, South Africa, and finds route to Indian Ocean.1492-93 Columbus's first voyage to West Indies.1493 Columbus visits Azores and Portugal on return from first voyage; tells of discovery of New World. Treaty of Tordesillas signed between kings of Portugal and Spain: delimits spheres of conquest with line 370 leagues west of Cape Verde Islands (claimed by Portugal); Portugal's sphere to east of line includes, in effect, Brazil.King Manuel I and Royal Council decide to continue seeking all-water route around Africa to Asia.King Manuel I expels unconverted Jews from Portugal.1497-99 Epic voyage of Vasco da Gama from Portugal around Africa to west India, successful completion of sea route to Asia project; da Gama returns to Portugal with samples of Asian spices.1500 Bound for India, Navigator Pedro Álvares Cabral "discovers" coast of Brazil and claims it for Portugal.1506 Anti-Jewish riots in Lisbon.Battle of Diu, India; Portugal's command of Indian Ocean assured for some time with Francisco de Almeida's naval victory over Egyptian and Gujerati fleets.Afonso de Albuquerque conquers Goa, India; beginning of Portuguese hegemony in south Asia.Portuguese conquest of Malacca; commerce in Spice Islands.1519 Magellan begins circumnavigation voyage.1536 Inquisition begins in Portugal.1543 Portuguese merchants reach Japan.1557 Portuguese merchants granted Chinese territory of Macau for trading factory.1572 Luís de Camões publishes epic poem, Os Lusíadas.1578 Battle of Alcácer-Quivir; Moroccan forces defeat army of King Sebastião of Portugal; King Sebastião dies in battle. Portuguese succession crisis.1580 King Phillip II of Spain claims and conquers Portugal; Spanish rule of Portugal, 1580-1640.1607-24 Dutch conquer sections of Asia and Brazil formerly held by Portugal.1640 1 December: Portuguese revolution in Lisbon overthrows Spanish rule, restores independence. Beginning of Portugal's Braganza royal dynasty.1654 Following Dutch invasions and conquest of parts of Brazil and Angola, Dutch expelled by force.1661 Anglo-Portuguese Alliance treaty signed: England pledges to defend Portugal "as if it were England itself." Queen Catherine of Bra-ganza marries England's Charles II.1668 February: In Portuguese-Spanish peace treaty, Spain recognizes independence of Portugal, thus ending 28-year War of Restoration.1703 Methuen Treaties signed, key commercial trade agreement and defense treaty between England and Portugal.1750 Pombal becomes chief minister of King José I.1755 1 November: Massive Lisbon earthquake, tidal wave, and fire.1759 Expulsion of Jesuits from Portugal and colonies.1761 Slavery abolished in continental Portugal.1769 Abandonment of Mazagão, Morocco, last Portuguese outpost.1777 Pombal dismissed as chief minister by Queen Maria I, after death of José I.1791 Portugal and United States establish full diplomatic relations.1807 November: First Napoleonic invasion; French forces under Junot conquer Portugal. Royal family flees to colony of Brazil and remains there until 1821.1809 Second French invasion of Portugal under General Soult.1811 Third French invasion of Portugal under General Masséna.1813 Following British general Wellington's military victories, French forces evacuate Portugal.1817 Liberal, constitutional movements against absolutist monarchist rule break out in Brazil (Pernambuco) and Portugal (Lisbon, under General Gomes Freire); crushed by government. British marshal of Portugal's army, Beresford, rules Portugal.Liberal insurrection in army officer corps breaks out in Cadiz, Spain, and influences similar movement in Portugal's armed forces first in Oporto.King João VI returns from Rio de Janeiro, Brazil, and early draft of constitution; era of constitutional monarchy begins.1822 7 September: João VI's son Pedro proclaims independence ofBrazil from Portugal and is named emperor. 23 September: Constitution of 1822 ratified.Portugal recognizes sovereign independence of Brazil.King João VI dies; power struggle for throne ensues between his sons, brothers Pedro and Miguel; Pedro, emperor of Brazil, abdicates Portuguese throne in favor of his daughter, D. Maria II, too young to assume crown. By agreement, Miguel, uncle of D. Maria, is to accept constitution and rule in her stead.1828 Miguel takes throne and abolishes constitution. Sections of Portugal rebel against Miguelite rule.1831 Emperor Pedro abdicates throne of Brazil and returns to Portugal to expel King Miguel from Portuguese throne.1832-34 Civil war between absolutist King Miguel and constitutionalist Pedro, who abandons throne of Brazil to restore his young daughter Maria to throne of Portugal; Miguel's armed forces defeated by those of Pedro. Miguel leaves for exile and constitution (1826 Charter) is restored.1834-53 Constitutional monarchy consolidated under rule of Queen Maria II, who dies in 1853.1851-71 Regeneration period of economic development and political stability; public works projects sponsored by Minister Fontes Pereira de Melo.1871-90 Rotativism period of alternating party governments; achieves political stability and less military intervention in politics and government. Expansion of colonial territory in tropical Africa.January: Following territorial dispute in central Africa, Britain delivers "Ultimatum" to Portugal demanding withdrawal of Portugal's forces from what is now Malawi and Zimbabwe. Portugal's government, humiliated in accepting demand under threat of a diplomatic break, falls. Beginning of governmental and political instability; monarchist decline and republicanism's rise.Anglo-Portuguese treaties signed relating to delimitation of frontiers in colonial Africa.1899 Treaty of Windsor; renewal of Anglo-Portuguese defense and friendship alliance.1903 Triumphal visit of King Edward VII to Portugal.1906 Politician João Franco supported by King Carlos I in dictatorship to restore order and reform.1908 1 February: Murder in Lisbon of King Carlos I and his heir apparent, Prince Dom Luís, by Portuguese anarchists. Eighteen-year-old King Manuel II assumes throne.1910 3-5 October: Following republican-led military insurrection in armed forces, monarchy falls and first Portuguese republic is proclaimed. Beginning of unstable, economically troubled, parliamentary republic form of government.May: Violent insurrection in Lisbon overturns government of General Pimenta de Castro; nearly a thousand casualties from several days of armed combat in capital.March: Following Portugal's honoring ally Britain's request to confiscate German shipping in Portuguese harbors, Germany declares war on Portugal; Portugal enters World War I on Allied side.Portugal organizes and dispatches Portuguese Expeditionary Corps to fight on the Western Front. 9 April: Portuguese forces mauled by German offensive in Battle of Lys. Food rationing and riots in Lisbon. Portuguese military operations in Mozambique against German expedition's invasion from German East Africa. 5 December: Authoritarian, presidentialist government under Major Sidónio Pais takes power in Lisbon, following a successful military coup.1918 11 November: Armistice brings cessation of hostilities on Western Front in World War I. Portuguese expeditionary forces stationed in Angola, Mozambique, and Flanders begin return trip to Portugal. 14 December: President Sidónio Pais assassinated. Chaotic period of ephemeral civil war ensues.1919-21 Excessively unstable political period, including January1919 abortive effort of Portuguese monarchists to restore Braganza dynasty to power. Republican forces prevail, but level of public violence, economic distress, and deprivation remains high.1921 October: Political violence attains peak with murder of former prime minister and other prominent political figures in Lisbon. Sectors of armed forces and Guarda Nacional Republicana are mutinous. Year of financial and corruption scandals, including Portuguese bank note (fraud) case; military court acquits guilty military insurrectionists, and one military judge declares "the country is sick."28 May: Republic overthrown by military coup or pronunciamento and conspiracy among officer corps. Parliament's doors locked and parliament closed for nearly nine years to January 1935. End of parliamentary republic, Western Europe's most unstable political system in this century, beginning of the Portuguese dictatorship, after 1930 known as the Estado Novo. Officer corps assumes reins of government, initiates military censorship of the press, and suppresses opposition.February: Military dictatorship under General Óscar Carmona crushes failed republican armed insurrection in Oporto and Lisbon.April: Military dictatorship names Professor Antônio de Oliveira Salazar minister of finance, with dictatorial powers over budget, to stabilize finances and rebuild economy. Insurrectionism among military elements continues into 1931.1930 Dr. Salazar named minister for colonies and announces balanced budgets. Salazar consolidates support by various means, including creation of official regime "movement," the National Union. Salazar engineers Colonial Act to ensure Lisbon's control of bankrupt African colonies by means of new fiscal controls and centralization of authority. July: Military dictatorship names Salazar prime minister for first time, and cabinet composition undergoes civilianization; academic colleagues and protégés plan conservative reform and rejuvenation of society, polity, and economy. Regime comes to be called the Estado Novo (New State). New State's constitution ratified by new parliament, the National Assembly; Portugal described in document as "unitary, corporative Republic" and governance influenced by Salazar's stern personality and doctrines such as integralism, Catholicism, and fiscal conservatism.1936 Violent instability and ensuing civil war in neighboring Spain, soon internationalized by fascist and communist intervention, shake Estado Novo regime. Pseudofascist period of regime features creation of imitation Fascist institutions to defend regime from leftist threats; Portugal institutes "Portuguese Youth" and "Portuguese Legion."1939 3 September: Prime Minister Salazar declares Portugal's neutrality in World War II. October: Anglo-Portuguese agreement grants naval and air base facilities to Britain and later to United States for Battle of the Atlantic and Normandy invasion support. Third Reich protests breach of Portugal's neutrality.6 June: On day of Allies' Normandy invasion, Portugal suspends mining and export of wolfram ore to both sides in war.8 May: Popular celebrations of Allied victory and Fascist defeat in Lisbon and Oporto coincide with Victory in Europe Day. Following managed elections for Estado Novo's National Assembly in November, regime police, renamed PIDE, with increased powers, represses opposition.1947 Abortive military coup in central Portugal easily crushed by regime. Independence of India and initiation of Indian protests against Portuguese colonial rule in Goa and other enclaves.1949 Portugal becomes founding member of NATO.1951 Portugal alters constitution and renames overseas colonies "Overseas Provinces." Portugal and United States sign military base agreements for use of air and naval facilities in Azores Islands and military aid to Lisbon. President Carmona dies in office, succeeded by General Craveiro Lopes (1951-58). July: Indians occupy enclave of Portuguese India (dependency of Damão) by means of passive resistance movement. August: Indian passive resistance movement in Portuguese India repelled by Portuguese forces with loss of life. December: With U.S. backing, Portugal admitted as member of United Nations (along with Spain). Air force general Humberto Delgado, in opposition, challenges Estado Novo's hand-picked successor to Craveiro Lopes, Admiral Américo Tomás. Delgado rallies coalition of democratic, liberal, and communist opposition but loses rigged election and later flees to exile in Brazil. Portugal joins European Free Trade Association (EFTA).January and February: Estado Novo rocked by armed African insurrection in northern Angola, crushed by armed forces. Hijacking of Portuguese ocean liner by ally of Delgado, Captain Henrique Galvão. April: Salazar defeats attempted military coup and reshuffles cabinet with group of younger figures who seek to reform colonial rule and strengthen the regime's image abroad. 18 December: Indian army rapidly defeats Portugal's defense force in Goa, Damão, and Diu and incorporates Portugal's Indian possessions into Indian Union. January: Abortive military coup in Beja, Portugal.1965 February: General Delgado and his Brazilian secretary murdered and secretly buried near Spanish frontier by political police, PIDE.1968 August and September: Prime Minister Salazar, aged 79, suffers crippling stoke. President Tomás names former cabinet officer Marcello Caetano as Salazar's successor. Caetano institutes modest reforms in Portugal and overseas.1971 Caetano government ratifies amended constitution that allows slight devolution and autonomy to overseas provinces in Africa and Asia. Right-wing loyalists oppose reforms in Portugal. 25 April: Military coup engineered by Armed Forces Movement overthrows Estado Novo and establishes provisional government emphasizing democratization, development, and decolonization. Limited resistance by loyalists. President Tomás and Premier Caetano flown to exile first in Madeira and then in Brazil. General Spínola appointed president. September: Revolution moves to left, as President Spínola, thwarted in his program, resigns.March: Military coup by conservative forces fails, and leftist response includes nationalization of major portion of economy. Polarization between forces and parties of left and right. 25 November: Military coup by moderate military elements thwarts leftist forces. Constituent Assembly prepares constitution. Revolution moves from left to center and then right.March: Constitution ratified by Assembly of the Republic. 25 April: Second general legislative election gives largest share of seats to Socialist Party (PS). Former oppositionist lawyer, Mário Soares, elected deputy and named prime minister.1977-85 Political pendulum of democratic Portugal moves from center-left to center-right, as Social Democratic Party (PSD) increases hold on assembly and take office under Prime Minister Cavaco Silva. July1985 elections give edge to PSD who advocate strong free-enterprise measures and revision of leftist-generated 1976 Constitution, amended modestly in 1982.1986 January: Portugal joins European Economic Community (EEC).1987 July: General, legislative elections for assembly give more than 50 percent to PSD led by Prime Minister Cavaco Silva. For first time, since 1974, Portugal has a working majority government.1989 June: Following revisions of 1976 Constitution, reprivatization of economy begins, under PS government.January: Presidential elections, Mário Soares reelected for second term. July: General, legislative elections for assembly result in new PSD victory and majority government.January-July: Portugal holds presidency of the Council of the European Economic Community (EEC). December: Tariff barriers fall as fully integrated Common Market established in the EEC.November: Treaty of Maastricht comes into force. The EEC officially becomes the European Union (EU). Portugal is signatory with 11 other member-nations.October: General, legislative elections for assembly result in PS victory and naming of Prime Minister Guterres. PS replace PSD as leading political party. November: Excavations for Lisbon bank uncover ancient Phoenician, Roman, and Christian ruins.January: General, presidential elections; socialist Jorge Sampaio defeats PSD's Cavaco Silva and assumes presidency from Dr. Mário Soares. July: Community of Portuguese Languages Countries (CPLP) cofounded by Portugal and Brazil.May-September: Expo '98 held in Lisbon. Opening of Vasco da Gama Bridge across Tagus River, Europe's longest (17 kilometers/ 11 miles). June: National referendum on abortion law change defeated after low voter turnout. November: National referendum on regionaliza-tion and devolution of power defeated after another low voter turnout.October: General, legislative elections: PS victory over PSD lacks clear majority in parliament. Following East Timor referendum, which votes for independence and withdrawal of Indonesia, outburst of popular outrage in streets, media, and communications of Portugal approves armed intervention and administration of United Nations (and withdrawal of Indonesia) in East Timor. Portugal and Indonesia restore diplomatic relations. December: A Special Territory since 1975, Colony of Macau transferred to sovereignty of People's Republic of China.January-June: Portugal holds presidency of the Council of the EU; end of Discoveries Historical Commemoration Cycle (1988-2000).United Nations forces continue to occupy and administer former colony of East Timor, with Portugal's approval.January: General, presidential elections; PS president Sampaio reelected for second term. City of Oporto, "European City of Culture" for the year, hosts arts festival. December: Municipal elections: PSD defeats PS; socialist prime minister Guterres resigns; President Sampaio calls March parliamentary elections.1 January: Portugal enters single European Currency system. Euro currency adopted and ceases use of former national currency, the escudo. March: Parliamentary elections; PSD defeats PS and José Durão Barroso becomes prime minister. Military modernization law passed. Portugal holds chairmanship of Organization for Security and Co-operation in Europe (OSCE).May: Municipal law passed permitting municipalities to reorganize in new ways.June: Prime Minister Durão Barroso, invited to succeed Romano Prodi as president of EU Commission, resigns. Pedro Santana Lopes becomes prime minister. European Parliament elections held. Conscription for national service in army and navy ended. Mass grave uncovered at Academy of Sciences Museum, Lisbon, revealing remains of several thousand victims of Lisbon earthquake, 1755.February: Parliamentary elections; PS defeats PSD, socialists win first absolute majority in parliament since 1975. José Sócrates becomes prime minister.January: Presidential elections; PSD candidate Aníbal Cavaco Silva elected and assumes presidency from Jorge Sampaio. Portugal's national soccer team ranked 7th out of 205 countries by international soccer association. European Union's Bologna Process in educational reform initiated in Portugal.July-December: Portugal holds presidency of the Council of the European Union. For reasons of economy, Portugal announces closure of many consulates, especially in France and the eastern US. Government begins official inspections of private institutions of higher education, following scandals.2008 January: Prime Minister Sócrates announces location of new Lisbon area airport as Alcochete, on south bank of Tagus River, site of air force shooting range. February: Portuguese Army begins to receive new modern battle tanks (Leopard 2 A6). March: Mass protest of 85,000 public school (primary and secondary levels) teachers in Lisbon schools dispute recent educational policies of minister of education and prime minister. -
18 foreign
'forən1) (belonging to a country other than one's own: a foreign passport.) extranjero2) ((with to) not naturally part of: Anger was foreign to her nature.) ajeno a•foreign adj extranjerotr['fɒrɪn]1 (from abroad) extranjero,-a2 (dealing with other countries) exterior3 (strange) ajeno,-a, extraño,-a\SMALLIDIOMATIC EXPRESSION/SMALLforeign affairs asuntos nombre masculino plural exterioresforeign aid ayuda exteriorforeign body cuerpo extrañoforeign correspondent corresponsal nombre masulino o femenino extranjero,-aforeign language lengua extranjera, idioma nombre masculino extranjeroforeign legion legión nombre femenino extranjeraForeign Minister Ministro,-a de Asuntos ExterioresForeign Ministry Ministerio de Asuntos ExterioresForeign Office SMALLBRITISH ENGLISH/SMALL Ministerio de Asuntos Exterioresforeign policy política exteriorForeign Secretary SMALLBRITISH ENGLISH/SMALL Ministro,-a de Asuntos Exterioresforeign trade comercio exteriorforeign ['fɔrən] adj1) : extranjero, exteriorforeign countries: países extranjerosforeign trade: comercio exterior2) alien: ajeno, extrañoforeign to their nature: ajeno a su caráctera foreign body: un cuerpo extrañoadj.• advenedizo, -a adj.• ajeno, -a adj.• exterior adj.• extranjero, -a adj.• extraño, -a adj.• forastero, -a adj.• foráneo, -a adj.'fɔːrən, 'fɑː-, 'fɒrən1)a) <custom/country/language> extranjerob) <policyade/relations> exteriorforeign debt — deuda f externa
2) ( alien)to be foreign TO something/somebody — ser* ajeno a algo/alguien
3) ( Med) extraño['fɒrɪn]1. ADJher job involves a lot of foreign travel — su trabajo supone que tiene que viajar a menudo por el extranjero
foreign news — noticias fpl internacionales
2) (Pol) [minister, ministry] de asuntos exteriores; [policy, relations] exterior4)•
foreign to —a) (=uncharacteristic of) ajeno a, impropio desuch behaviour was foreign to his nature — este comportamiento era ajeno a or impropio de su carácter
b) (=unfamiliar to) ajeno a2.CPDforeign affairs NPL — asuntos mpl exteriores
Secretary of State for Foreign Affairs — Secretario(-a) m / f de Estado para Asuntos Exteriores
foreign affairs correspondent N — corresponsal mf de asuntos exteriores
foreign agent N — agente mf extranjero(-a)
foreign aid N — (=aid to other countries) ayuda f al extranjero, ayuda f internacional; (=aid from abroad) ayuda f internacional
foreign body N — frm cuerpo m extraño frm
foreign correspondent N — corresponsal mf en el extranjero
foreign currency N — moneda f extranjera
foreign currency income N — ingresos mpl de moneda extranjera
tourism is a major source of our foreign currency income — el turismo es una importante fuente de ingresos de moneda extranjera para nuestro país
foreign debt N — deuda f externa or exterior
foreign exchange N — (=currency) divisas fpl ; (=reserves) reservas fpl de divisas; (=market) mercado m de divisas; (=system) cambio m de divisas
tourism is Thailand's biggest earner of foreign exchange — el turismo es la principal fuente de divisas para Tailandia
foreign exchange dealer N — agente mf de cambio, operador(a) m / f cambiario(-a) or de cambio
foreign exchange market N — mercado m de divisas
foreign exchange rate N — tipo m de cambio de divisas
foreign exchange reserves NPL — reservas fpl de divisas
foreign exchange trader N — = foreign exchange dealer
foreign exchange trading N — operaciones fpl de cambio (de divisas)
foreign investment N — (from abroad) inversión f extranjera; (in other countries) inversión f en el extranjero
Foreign Minister N — Ministro(-a) m / f de Asuntos Exteriores
Foreign Ministry N — Ministerio m de Asuntos Exteriores
foreign national N — ciudadano(-a) m / f extranjero(-a)
the Foreign Office N — (Brit) el Ministerio de Asuntos Exteriores
foreign policy N — política f exterior
Foreign Secretary N — (Brit) Ministro(-a) m / f de Asuntos Exteriores
foreign service N — (US) servicio m exterior
foreign trade N — comercio m exterior
* * *['fɔːrən, 'fɑː-, 'fɒrən]1)a) <custom/country/language> extranjerob) <policy/trade/relations> exteriorforeign debt — deuda f externa
2) ( alien)to be foreign TO something/somebody — ser* ajeno a algo/alguien
3) ( Med) extraño -
19 market
1. n1) рынок2) биржа3) торговля4) амер. продовольственный магазин
- acceptance market
- active market
- actuals market
- advancing market
- agricultural market
- agricultural commodities market
- auction market
- bear market
- bid market
- biddable market
- black market
- bond market
- boom market
- bootleg market
- brisk market
- broad market
- bull market
- buoyant market
- buyers' market
- call money market
- capital market
- captive market
- car market
- cash market
- central wholesale markets
- chartering market
- closed market
- colonial market
- commercial banking market
- commercial paper market
- commodity market
- competition-free market
- competitive market
- concentrated market
- confidence market
- congested market
- consumer market
- control market
- core European market
- corn market
- corporate bond market
- covered market
- credit market
- curb market
- currency market
- dead market
- debt market
- demoralized market
- depressed market
- difficult market
- discount market
- distant market
- domestic market
- dual exchange market
- dull market
- easy money market
- effective market
- either way market
- emerging markets
- enduring market
- equity market
- Eurobond market
- Eurocurrency market
- Euro securities market
- exchange market
- exchangeable bond market
- expanding market
- export market
- external market
- falling market
- farmers' market
- farm labour market
- farm seasonal labour market
- finance market
- financial market
- firm market
- fixed-interest market
- flat market
- flexible market
- floated market
- fluctuating market
- food market
- foreign market
- foreign currency stock market
- foreign exchange market
- forward market
- fourth market
- fragmented market
- free market
- freight market
- fund market
- futures market
- gaining market
- giant market
- gilt-edged market
- gilts market
- glamor market
- global equity market
- glutted market
- gold market
- goods market
- government market
- grain market
- graveyard market
- gray market
- grey market
- heavy market
- heterogeneous market
- hired agricultural labour market
- home market
- homogeneous market
- housing market
- illegal market
- illiquid markets
- immediate market
- inactive market
- increasing market
- indeterminate market
- industrial market
- industrial labour market
- inflated securities market
- inland market
- insurance market
- interbank market
- interbank currency market
- intermediate market
- internal market
- international market
- international monetary market
- inverted market
- investment market
- jerry-built market
- job market
- kerb market
- labour market
- large market
- lawful market
- legal market
- licence market
- limited market
- liner tonnage market
- liquid market
- liquidity market
- lively market
- livestock market
- loan market
- local market
- locked market
- London discount market
- lucrative market
- machine and equipment market
- major market
- manpower market
- mass market
- mature card market
- merchandise market
- military market
- monetary market
- money market
- monopolized market
- narrow market
- national market
- new issues market
- off-board market
- offered market
- offshore market
- one-buyer market
- one-sided market
- one-way market
- open market
- open-air market
- option market
- organized market
- outer market
- outside market
- overbought market
- oversaturated market
- overseas market
- overstocked market
- over-the-counter market
- parallel markets
- passenger market
- pegged market
- physical market
- piggiback market
- placement market
- potential market
- price-elastic market
- primary market
- primary mortgage market
- produce market
- professional labour market
- profitable market
- property market
- prospective market
- protected market
- purchasing market
- railroad market
- railway market
- raw materials market
- ready market
- real market
- real estate market
- receptive market
- repurchase market
- resale market
- reseller market
- reserved market
- restricted market
- retail market
- retail public market
- rigged market
- rising market
- roadside market
- roller-coaster market
- rural market
- sagging market
- sales market
- saturated market
- seaboard markets
- secondary market
- securities market
- seesaw market
- seller's market
- sensitive market
- services market
- settlement market
- share market
- sheltered market
- shipping market
- shorthaul market
- short-term money market
- shrinking market
- sick market
- single market
- slack market
- sluggish market
- soft market
- sophisticated market
- speculative market
- speed market
- spot market
- spot currency market
- stable market
- stagnant market
- stale market
- steady market
- stiff market
- street market
- strong market
- substantial market
- tanker market
- tanker freight market
- technically strong market
- technically weak market
- terminal market
- test market
- thin market
- third market
- tight market
- tight money market
- tonnage market
- top-heavy market
- trade market
- trading market
- transport market
- travel market
- two-tier market
- two-tier foreign exchange market
- two-tier gold market
- two-way market
- uncertain market
- undersaturated market
- uneven market
- unlisted securities market
- unofficial market
- unorganized market
- unpredictable market
- unsettled market
- unsteady market
- upscale market
- urban market
- vast market
- volatile market
- volatile equity market
- weak market
- weekly market
- wholesale market
- world market
- world commodity market
- markets for equity issues
- market for a product
- market of foodstuffs
- market of inventions
- market of limited absorptive capacity
- market off
- above the market
- at the market
- at today's market
- in the market
- in line with the market
- in a rising market
- on the market
- affect a market
- assess a market
- bang a market
- be in the market
- be long of the market
- bear the market
- black the market
- boom the market
- branch out into a new market
- break into the market
- bring on the market
- bring to the market
- broaden a market
- build up a market
- bull the market
- buy at the market
- come into the market
- command a market
- congest a market
- conquer a market
- consolidate the country's fragmented market
- corner a market
- create a market
- develop a market
- divide the market
- dominate the market
- enter the market
- evaluate a market
- expand a market
- explore a market
- find market
- find a ready market
- flood the market
- force the market
- gain access to the market
- get access to the market
- glut the market
- hold a market
- investigate a market
- keep the market
- liberalize financial markets
- launch on the market
- make a market
- manipulate a market
- meet with a ready market
- monopolize a market
- open up new markets
- oust from the market
- overstock a market
- penetrate into the market
- play the market
- price oneself out of the market
- pull from the market
- pull out of the market
- put on the market
- raid the market
- regain a market
- retain a market
- rig a market
- rule a market
- secure a market
- seize a market
- segment a market
- sell at the market
- share markets
- sound the market
- split markets
- spoil the market
- study a market
- suit the market
- take over a market
- tap new markets
- test a market
- win a market2. vEnglish-russian dctionary of contemporary Economics > market
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20 Historical Portugal
Before Romans described western Iberia or Hispania as "Lusitania," ancient Iberians inhabited the land. Phoenician and Greek trading settlements grew up in the Tagus estuary area and nearby coasts. Beginning around 202 BCE, Romans invaded what is today southern Portugal. With Rome's defeat of Carthage, Romans proceeded to conquer and rule the western region north of the Tagus, which they named Roman "Lusitania." In the fourth century CE, as Rome's rule weakened, the area experienced yet another invasion—Germanic tribes, principally the Suevi, who eventually were Christianized. During the sixth century CE, the Suevi kingdom was superseded by yet another Germanic tribe—the Christian Visigoths.A major turning point in Portugal's history came in 711, as Muslim armies from North Africa, consisting of both Arab and Berber elements, invaded the Iberian Peninsula from across the Straits of Gibraltar. They entered what is now Portugal in 714, and proceeded to conquer most of the country except for the far north. For the next half a millennium, Islam and Muslim presence in Portugal left a significant mark upon the politics, government, language, and culture of the country.Islam, Reconquest, and Portugal Created, 714-1140The long frontier struggle between Muslim invaders and Christian communities in the north of the Iberian peninsula was called the Reconquista (Reconquest). It was during this struggle that the first dynasty of Portuguese kings (Burgundian) emerged and the independent monarchy of Portugal was established. Christian forces moved south from what is now the extreme north of Portugal and gradually defeated Muslim forces, besieging and capturing towns under Muslim sway. In the ninth century, as Christian forces slowly made their way southward, Christian elements were dominant only in the area between Minho province and the Douro River; this region became known as "territorium Portu-calense."In the 11th century, the advance of the Reconquest quickened as local Christian armies were reinforced by crusading knights from what is now France and England. Christian forces took Montemor (1034), at the Mondego River; Lamego (1058); Viseu (1058); and Coimbra (1064). In 1095, the king of Castile and Léon granted the country of "Portu-cale," what became northern Portugal, to a Burgundian count who had emigrated from France. This was the foundation of Portugal. In 1139, a descendant of this count, Afonso Henriques, proclaimed himself "King of Portugal." He was Portugal's first monarch, the "Founder," and the first of the Burgundian dynasty, which ruled until 1385.The emergence of Portugal in the 12th century as a separate monarchy in Iberia occurred before the Christian Reconquest of the peninsula. In the 1140s, the pope in Rome recognized Afonso Henriques as king of Portugal. In 1147, after a long, bloody siege, Muslim-occupied Lisbon fell to Afonso Henriques's army. Lisbon was the greatest prize of the 500-year war. Assisting this effort were English crusaders on their way to the Holy Land; the first bishop of Lisbon was an Englishman. When the Portuguese captured Faro and Silves in the Algarve province in 1248-50, the Reconquest of the extreme western portion of the Iberian peninsula was complete—significantly, more than two centuries before the Spanish crown completed the Reconquest of the eastern portion by capturing Granada in 1492.Consolidation and Independence of Burgundian Portugal, 1140-1385Two main themes of Portugal's early existence as a monarchy are the consolidation of control over the realm and the defeat of a Castil-ian threat from the east to its independence. At the end of this period came the birth of a new royal dynasty (Aviz), which prepared to carry the Christian Reconquest beyond continental Portugal across the straits of Gibraltar to North Africa. There was a variety of motives behind these developments. Portugal's independent existence was imperiled by threats from neighboring Iberian kingdoms to the north and east. Politics were dominated not only by efforts against the Muslims inPortugal (until 1250) and in nearby southern Spain (until 1492), but also by internecine warfare among the kingdoms of Castile, Léon, Aragon, and Portugal. A final comeback of Muslim forces was defeated at the battle of Salado (1340) by allied Castilian and Portuguese forces. In the emerging Kingdom of Portugal, the monarch gradually gained power over and neutralized the nobility and the Church.The historic and commonplace Portuguese saying "From Spain, neither a good wind nor a good marriage" was literally played out in diplomacy and war in the late 14th-century struggles for mastery in the peninsula. Larger, more populous Castile was pitted against smaller Portugal. Castile's Juan I intended to force a union between Castile and Portugal during this era of confusion and conflict. In late 1383, Portugal's King Fernando, the last king of the Burgundian dynasty, suddenly died prematurely at age 38, and the Master of Aviz, Portugal's most powerful nobleman, took up the cause of independence and resistance against Castile's invasion. The Master of Aviz, who became King João I of Portugal, was able to obtain foreign assistance. With the aid of English archers, Joao's armies defeated the Castilians in the crucial battle of Aljubarrota, on 14 August 1385, a victory that assured the independence of the Portuguese monarchy from its Castilian nemesis for several centuries.Aviz Dynasty and Portugal's First Overseas Empire, 1385-1580The results of the victory at Aljubarrota, much celebrated in Portugal's art and monuments, and the rise of the Aviz dynasty also helped to establish a new merchant class in Lisbon and Oporto, Portugal's second city. This group supported King João I's program of carrying the Reconquest to North Africa, since it was interested in expanding Portugal's foreign commerce and tapping into Muslim trade routes and resources in Africa. With the Reconquest against the Muslims completed in Portugal and the threat from Castile thwarted for the moment, the Aviz dynasty launched an era of overseas conquest, exploration, and trade. These efforts dominated Portugal's 15th and 16th centuries.The overseas empire and age of Discoveries began with Portugal's bold conquest in 1415 of the Moroccan city of Ceuta. One royal member of the 1415 expedition was young, 21-year-old Prince Henry, later known in history as "Prince Henry the Navigator." His part in the capture of Ceuta won Henry his knighthood and began Portugal's "Marvelous Century," during which the small kingdom was counted as a European and world power of consequence. Henry was the son of King João I and his English queen, Philippa of Lancaster, but he did not inherit the throne. Instead, he spent most of his life and his fortune, and that of the wealthy military Order of Christ, on various imperial ventures and on voyages of exploration down the African coast and into the Atlantic. While mythology has surrounded Henry's controversial role in the Discoveries, and this role has been exaggerated, there is no doubt that he played a vital part in the initiation of Portugal's first overseas empire and in encouraging exploration. He was naturally curious, had a sense of mission for Portugal, and was a strong leader. He also had wealth to expend; at least a third of the African voyages of the time were under his sponsorship. If Prince Henry himself knew little science, significant scientific advances in navigation were made in his day.What were Portugal's motives for this new imperial effort? The well-worn historical cliche of "God, Glory, and Gold" can only partly explain the motivation of a small kingdom with few natural resources and barely 1 million people, which was greatly outnumbered by the other powers it confronted. Among Portuguese objectives were the desire to exploit known North African trade routes and resources (gold, wheat, leather, weaponry, and other goods that were scarce in Iberia); the need to outflank the Muslim world in the Mediterranean by sailing around Africa, attacking Muslims en route; and the wish to ally with Christian kingdoms beyond Africa. This enterprise also involved a strategy of breaking the Venetian spice monopoly by trading directly with the East by means of discovering and exploiting a sea route around Africa to Asia. Besides the commercial motives, Portugal nurtured a strong crusading sense of Christian mission, and various classes in the kingdom saw an opportunity for fame and gain.By the time of Prince Henry's death in 1460, Portugal had gained control of the Atlantic archipelagos of the Azores and Madeiras, begun to colonize the Cape Verde Islands, failed to conquer the Canary Islands from Castile, captured various cities on Morocco's coast, and explored as far as Senegal, West Africa, down the African coast. By 1488, Bar-tolomeu Dias had rounded the Cape of Good Hope in South Africa and thereby discovered the way to the Indian Ocean.Portugal's largely coastal African empire and later its fragile Asian empire brought unexpected wealth but were purchased at a high price. Costs included wars of conquest and defense against rival powers, manning the far-flung navel and trade fleets and scattered castle-fortresses, and staffing its small but fierce armies, all of which entailed a loss of skills and population to maintain a scattered empire. Always short of capital, the monarchy became indebted to bankers. There were many defeats beginning in the 16th century at the hands of the larger imperial European monarchies (Spain, France, England, and Holland) and many attacks on Portugal and its strung-out empire. Typically, there was also the conflict that arose when a tenuously held world empire that rarely if ever paid its way demanded finance and manpower Portugal itself lacked.The first 80 years of the glorious imperial era, the golden age of Portugal's imperial power and world influence, was an African phase. During 1415-88, Portuguese navigators and explorers in small ships, some of them caravelas (caravels), explored the treacherous, disease-ridden coasts of Africa from Morocco to South Africa beyond the Cape of Good Hope. By the 1470s, the Portuguese had reached the Gulf of Guinea and, in the early 1480s, what is now Angola. Bartolomeu Dias's extraordinary voyage of 1487-88 to South Africa's coast and the edge of the Indian Ocean convinced Portugal that the best route to Asia's spices and Christians lay south, around the tip of southern Africa. Between 1488 and 1495, there was a hiatus caused in part by domestic conflict in Portugal, discussion of resources available for further conquests beyond Africa in Asia, and serious questions as to Portugal's capacity to reach beyond Africa. In 1495, King Manuel and his council decided to strike for Asia, whatever the consequences. In 1497-99, Vasco da Gama, under royal orders, made the epic two-year voyage that discovered the sea route to western India (Asia), outflanked Islam and Venice, and began Portugal's Asian empire. Within 50 years, Portugal had discovered and begun the exploitation of its largest colony, Brazil, and set up forts and trading posts from the Middle East (Aden and Ormuz), India (Calicut, Goa, etc.), Malacca, and Indonesia to Macau in China.By the 1550s, parts of its largely coastal, maritime trading post empire from Morocco to the Moluccas were under siege from various hostile forces, including Muslims, Christians, and Hindi. Although Moroccan forces expelled the Portuguese from the major coastal cities by 1550, the rival European monarchies of Castile (Spain), England, France, and later Holland began to seize portions of her undermanned, outgunned maritime empire.In 1580, Phillip II of Spain, whose mother was a Portuguese princess and who had a strong claim to the Portuguese throne, invaded Portugal, claimed the throne, and assumed control over the realm and, by extension, its African, Asian, and American empires. Phillip II filled the power vacuum that appeared in Portugal following the loss of most of Portugal's army and its young, headstrong King Sebastião in a disastrous war in Morocco. Sebastiao's death in battle (1578) and the lack of a natural heir to succeed him, as well as the weak leadership of the cardinal who briefly assumed control in Lisbon, led to a crisis that Spain's strong monarch exploited. As a result, Portugal lost its independence to Spain for a period of 60 years.Portugal under Spanish Rule, 1580-1640Despite the disastrous nature of Portugal's experience under Spanish rule, "The Babylonian Captivity" gave birth to modern Portuguese nationalism, its second overseas empire, and its modern alliance system with England. Although Spain allowed Portugal's weakened empire some autonomy, Spanish rule in Portugal became increasingly burdensome and unacceptable. Spain's ambitious imperial efforts in Europe and overseas had an impact on the Portuguese as Spain made greater and greater demands on its smaller neighbor for manpower and money. Portugal's culture underwent a controversial Castilianization, while its empire became hostage to Spain's fortunes. New rival powers England, France, and Holland attacked and took parts of Spain's empire and at the same time attacked Portugal's empire, as well as the mother country.Portugal's empire bore the consequences of being attacked by Spain's bitter enemies in what was a form of world war. Portuguese losses were heavy. By 1640, Portugal had lost most of its Moroccan cities as well as Ceylon, the Moluccas, and sections of India. With this, Portugal's Asian empire was gravely weakened. Only Goa, Damão, Diu, Bombay, Timor, and Macau remained and, in Brazil, Dutch forces occupied the northeast.On 1 December 1640, long commemorated as a national holiday, Portuguese rebels led by the duke of Braganza overthrew Spanish domination and took advantage of Spanish weakness following a more serious rebellion in Catalonia. Portugal regained independence from Spain, but at a price: dependence on foreign assistance to maintain its independence in the form of the renewal of the alliance with England.Restoration and Second Empire, 1640-1822Foreign affairs and empire dominated the restoration era and aftermath, and Portugal again briefly enjoyed greater European power and prestige. The Anglo-Portuguese Alliance was renewed and strengthened in treaties of 1642, 1654, and 1661, and Portugal's independence from Spain was underwritten by English pledges and armed assistance. In a Luso-Spanish treaty of 1668, Spain recognized Portugal's independence. Portugal's alliance with England was a marriage of convenience and necessity between two monarchies with important religious, cultural, and social differences. In return for legal, diplomatic, and trade privileges, as well as the use during war and peace of Portugal's great Lisbon harbor and colonial ports for England's navy, England pledged to protect Portugal and its scattered empire from any attack. The previously cited 17th-century alliance treaties were renewed later in the Treaty of Windsor, signed in London in 1899. On at least 10 different occasions after 1640, and during the next two centuries, England was central in helping prevent or repel foreign invasions of its ally, Portugal.Portugal's second empire (1640-1822) was largely Brazil-oriented. Portuguese colonization, exploitation of wealth, and emigration focused on Portuguese America, and imperial revenues came chiefly from Brazil. Between 1670 and 1740, Portugal's royalty and nobility grew wealthier on funds derived from Brazilian gold, diamonds, sugar, tobacco, and other crops, an enterprise supported by the Atlantic slave trade and the supply of African slave labor from West Africa and Angola. Visitors today can see where much of that wealth was invested: Portugal's rich legacy of monumental architecture. Meanwhile, the African slave trade took a toll in Angola and West Africa.In continental Portugal, absolutist monarchy dominated politics and government, and there was a struggle for position and power between the monarchy and other institutions, such as the Church and nobility. King José I's chief minister, usually known in history as the marquis of Pombal (ruled 1750-77), sharply suppressed the nobility and theChurch (including the Inquisition, now a weak institution) and expelled the Jesuits. Pombal also made an effort to reduce economic dependence on England, Portugal's oldest ally. But his successes did not last much beyond his disputed time in office.Beginning in the late 18th century, the European-wide impact of the French Revolution and the rise of Napoleon placed Portugal in a vulnerable position. With the monarchy ineffectively led by an insane queen (Maria I) and her indecisive regent son (João VI), Portugal again became the focus of foreign ambition and aggression. With England unable to provide decisive assistance in time, France—with Spain's consent—invaded Portugal in 1807. As Napoleon's army under General Junot entered Lisbon meeting no resistance, Portugal's royal family fled on a British fleet to Brazil, where it remained in exile until 1821. In the meantime, Portugal's overseas empire was again under threat. There was a power vacuum as the monarch was absent, foreign armies were present, and new political notions of liberalism and constitutional monarchy were exciting various groups of citizens.Again England came to the rescue, this time in the form of the armies of the duke of Wellington. Three successive French invasions of Portugal were defeated and expelled, and Wellington succeeded in carrying the war against Napoleon across the Portuguese frontier into Spain. The presence of the English army, the new French-born liberal ideas, and the political vacuum combined to create revolutionary conditions. The French invasions and the peninsular wars, where Portuguese armed forces played a key role, marked the beginning of a new era in politics.Liberalism and Constitutional Monarchy, 1822-1910During 1807-22, foreign invasions, war, and civil strife over conflicting political ideas gravely damaged Portugal's commerce, economy, and novice industry. The next terrible blow was the loss of Brazil in 1822, the jewel in the imperial crown. Portugal's very independence seemed to be at risk. In vain, Portugal sought to resist Brazilian independence by force, but in 1825 it formally acknowledged Brazilian independence by treaty.Portugal's slow recovery from the destructive French invasions and the "war of independence" was complicated by civil strife over the form of constitutional monarchy that best suited Portugal. After struggles over these issues between 1820 and 1834, Portugal settled somewhat uncertainly into a moderate constitutional monarchy whose constitution (Charter of 1826) lent it strong political powers to exert a moderating influence between the executive and legislative branches of the government. It also featured a new upper middle class based on land ownership and commerce; a Catholic Church that, although still important, lived with reduced privileges and property; a largely African (third) empire to which Lisbon and Oporto devoted increasing spiritual and material resources, starting with the liberal imperial plans of 1836 and 1851, and continuing with the work of institutions like the Lisbon Society of Geography (established 1875); and a mass of rural peasants whose bonds to the land weakened after 1850 and who began to immigrate in increasing numbers to Brazil and North America.Chronic military intervention in national politics began in 19th-century Portugal. Such intervention, usually commencing with coups or pronunciamentos (military revolts), was a shortcut to the spoils of political office and could reflect popular discontent as well as the power of personalities. An early example of this was the 1817 golpe (coup) attempt of General Gomes Freire against British military rule in Portugal before the return of King João VI from Brazil. Except for a more stable period from 1851 to 1880, military intervention in politics, or the threat thereof, became a feature of the constitutional monarchy's political life, and it continued into the First Republic and the subsequent Estado Novo.Beginning with the Regeneration period (1851-80), Portugal experienced greater political stability and economic progress. Military intervention in politics virtually ceased; industrialization and construction of railroads, roads, and bridges proceeded; two political parties (Regenerators and Historicals) worked out a system of rotation in power; and leading intellectuals sparked a cultural revival in several fields. In 19th-century literature, there was a new golden age led by such figures as Alexandre Herculano (historian), Eça de Queirós (novelist), Almeida Garrett (playwright and essayist), Antero de Quental (poet), and Joaquim Oliveira Martins (historian and social scientist). In its third overseas empire, Portugal attempted to replace the slave trade and slavery with legitimate economic activities; to reform the administration; and to expand Portuguese holdings beyond coastal footholds deep into the African hinterlands in West, West Central, and East Africa. After 1841, to some extent, and especially after 1870, colonial affairs, combined with intense nationalism, pressures for economic profit in Africa, sentiment for national revival, and the drift of European affairs would make or break Lisbon governments.Beginning with the political crisis that arose out of the "English Ultimatum" affair of January 1890, the monarchy became discredtted and identified with the poorly functioning government, political parties splintered, and republicanism found more supporters. Portugal participated in the "Scramble for Africa," expanding its African holdings, but failed to annex territory connecting Angola and Mozambique. A growing foreign debt and state bankruptcy as of the early 1890s damaged the constitutional monarchy's reputation, despite the efforts of King Carlos in diplomacy, the renewal of the alliance in the Windsor Treaty of 1899, and the successful if bloody colonial wars in the empire (1880-97). Republicanism proclaimed that Portugal's weak economy and poor society were due to two historic institutions: the monarchy and the Catholic Church. A republic, its stalwarts claimed, would bring greater individual liberty; efficient, if more decentralized government; and a stronger colonial program while stripping the Church of its role in both society and education.As the monarchy lost support and republicans became more aggressive, violence increased in politics. King Carlos I and his heir Luís were murdered in Lisbon by anarchist-republicans on 1 February 1908. Following a military and civil insurrection and fighting between monarchist and republican forces, on 5 October 1910, King Manuel II fled Portugal and a republic was proclaimed.First Parliamentary Republic, 1910-26Portugal's first attempt at republican government was the most unstable, turbulent parliamentary republic in the history of 20th-century Western Europe. During a little under 16 years of the republic, there were 45 governments, a number of legislatures that did not complete normal terms, military coups, and only one president who completed his four-year term in office. Portuguese society was poorly prepared for this political experiment. Among the deadly legacies of the monarchy were a huge public debt; a largely rural, apolitical, and illiterate peasant population; conflict over the causes of the country's misfortunes; and lack of experience with a pluralist, democratic system.The republic had some talented leadership but lacked popular, institutional, and economic support. The 1911 republican constitution established only a limited democracy, as only a small portion of the adult male citizenry was eligible to vote. In a country where the majority was Catholic, the republic passed harshly anticlerical laws, and its institutions and supporters persecuted both the Church and its adherents. During its brief disjointed life, the First Republic drafted important reform plans in economic, social, and educational affairs; actively promoted development in the empire; and pursued a liberal, generous foreign policy. Following British requests for Portugal's assistance in World War I, Portugal entered the war on the Allied side in March 1916 and sent armies to Flanders and Portuguese Africa. Portugal's intervention in that conflict, however, was too costly in many respects, and the ultimate failure of the republic in part may be ascribed to Portugal's World War I activities.Unfortunately for the republic, its time coincided with new threats to Portugal's African possessions: World War I, social and political demands from various classes that could not be reconciled, excessive military intervention in politics, and, in particular, the worst economic and financial crisis Portugal had experienced since the 16th and 17th centuries. After the original Portuguese Republican Party (PRP, also known as the "Democrats") splintered into three warring groups in 1912, no true multiparty system emerged. The Democrats, except for only one or two elections, held an iron monopoly of electoral power, and political corruption became a major issue. As extreme right-wing dictatorships elsewhere in Europe began to take power in Italy (1922), neighboring Spain (1923), and Greece (1925), what scant popular support remained for the republic collapsed. Backed by a right-wing coalition of landowners from Alentejo, clergy, Coimbra University faculty and students, Catholic organizations, and big business, career military officers led by General Gomes da Costa executed a coup on 28 May 1926, turned out the last republican government, and established a military government.The Estado Novo (New State), 1926-74During the military phase (1926-32) of the Estado Novo, professional military officers, largely from the army, governed and administered Portugal and held key cabinet posts, but soon discovered that the military possessed no magic formula that could readily solve the problems inherited from the First Republic. Especially during the years 1926-31, the military dictatorship, even with its political repression of republican activities and institutions (military censorship of the press, political police action, and closure of the republic's rowdy parliament), was characterized by similar weaknesses: personalism and factionalism; military coups and political instability, including civil strife and loss of life; state debt and bankruptcy; and a weak economy. "Barracks parliamentarism" was not an acceptable alternative even to the "Nightmare Republic."Led by General Óscar Carmona, who had replaced and sent into exile General Gomes da Costa, the military dictatorship turned to a civilian expert in finance and economics to break the budget impasse and bring coherence to the disorganized system. Appointed minister of finance on 27 April 1928, the Coimbra University Law School professor of economics Antônio de Oliveira Salazar (1889-1970) first reformed finance, helped balance the budget, and then turned to other concerns as he garnered extraordinary governing powers. In 1930, he was appointed interim head of another key ministry (Colonies) and within a few years had become, in effect, a civilian dictator who, with the military hierarchy's support, provided the government with coherence, a program, and a set of policies.For nearly 40 years after he was appointed the first civilian prime minister in 1932, Salazar's personality dominated the government. Unlike extreme right-wing dictators elsewhere in Europe, Salazar was directly appointed by the army but was never endorsed by a popular political party, street militia, or voter base. The scholarly, reclusive former Coimbra University professor built up what became known after 1932 as the Estado Novo ("New State"), which at the time of its overthrow by another military coup in 1974, was the longest surviving authoritarian regime in Western Europe. The system of Salazar and the largely academic and technocratic ruling group he gathered in his cabinets was based on the central bureaucracy of the state, which was supported by the president of the republic—always a senior career military officer, General Óscar Carmona (1928-51), General Craveiro Lopes (1951-58), and Admiral Américo Tómaz (1958-74)—and the complicity of various institutions. These included a rubber-stamp legislature called the National Assembly (1935-74) and a political police known under various names: PVDE (1932-45), PIDE (1945-69),and DGS (1969-74). Other defenders of the Estado Novo security were paramilitary organizations such as the National Republican Guard (GNR); the Portuguese Legion (PL); and the Portuguese Youth [Movement]. In addition to censorship of the media, theater, and books, there was political repression and a deliberate policy of depoliticization. All political parties except for the approved movement of regime loyalists, the União Nacional or (National Union), were banned.The most vigorous and more popular period of the New State was 1932-44, when the basic structures were established. Never monolithic or entirely the work of one person (Salazar), the New State was constructed with the assistance of several dozen top associates who were mainly academics from law schools, some technocrats with specialized skills, and a handful of trusted career military officers. The 1933 Constitution declared Portugal to be a "unitary, corporative Republic," and pressures to restore the monarchy were resisted. Although some of the regime's followers were fascists and pseudofascists, many more were conservative Catholics, integralists, nationalists, and monarchists of different varieties, and even some reactionary republicans. If the New State was authoritarian, it was not totalitarian and, unlike fascism in Benito Mussolini's Italy or Adolf Hitler's Germany, it usually employed the minimum of violence necessary to defeat what remained a largely fractious, incoherent opposition.With the tumultuous Second Republic and the subsequent civil war in nearby Spain, the regime felt threatened and reinforced its defenses. During what Salazar rightly perceived as a time of foreign policy crisis for Portugal (1936-45), he assumed control of the Ministry of Foreign Affairs. From there, he pursued four basic foreign policy objectives: supporting the Nationalist rebels of General Francisco Franco in the Spanish Civil War (1936-39) and concluding defense treaties with a triumphant Franco; ensuring that General Franco in an exhausted Spain did not enter World War II on the Axis side; maintaining Portuguese neutrality in World War II with a post-1942 tilt toward the Allies, including granting Britain and the United States use of bases in the Azores Islands; and preserving and protecting Portugal's Atlantic Islands and its extensive, if poor, overseas empire in Africa and Asia.During the middle years of the New State (1944-58), many key Salazar associates in government either died or resigned, and there was greater social unrest in the form of unprecedented strikes and clandestine Communist activities, intensified opposition, and new threatening international pressures on Portugal's overseas empire. During the earlier phase of the Cold War (1947-60), Portugal became a steadfast, if weak, member of the US-dominated North Atlantic Treaty Organization alliance and, in 1955, with American support, Portugal joined the United Nations (UN). Colonial affairs remained a central concern of the regime. As of 1939, Portugal was the third largest colonial power in the world and possessed territories in tropical Africa (Angola, Mozambique, Guinea-Bissau, and São Tomé and Príncipe Islands) and the remnants of its 16th-century empire in Asia (Goa, Damão, Diu, East Timor, and Macau). Beginning in the early 1950s, following the independence of India in 1947, Portugal resisted Indian pressures to decolonize Portuguese India and used police forces to discourage internal opposition in its Asian and African colonies.The later years of the New State (1958-68) witnessed the aging of the increasingly isolated but feared Salazar and new threats both at home and overseas. Although the regime easily overcame the brief oppositionist threat from rival presidential candidate General Humberto Delgado in the spring of 1958, new developments in the African and Asian empires imperiled the authoritarian system. In February 1961, oppositionists hijacked the Portuguese ocean liner Santa Maria and, in following weeks, African insurgents in northern Angola, although they failed to expel the Portuguese, gained worldwide media attention, discredited the New State, and began the 13-year colonial war. After thwarting a dissident military coup against his continued leadership, Salazar and his ruling group mobilized military repression in Angola and attempted to develop the African colonies at a faster pace in order to ensure Portuguese control. Meanwhile, the other European colonial powers (Britain, France, Belgium, and Spain) rapidly granted political independence to their African territories.At the time of Salazar's removal from power in September 1968, following a stroke, Portugal's efforts to maintain control over its colonies appeared to be successful. President Americo Tomás appointed Dr. Marcello Caetano as Salazar's successor as prime minister. While maintaining the New State's basic structures, and continuing the regime's essential colonial policy, Caetano attempted wider reforms in colonial administration and some devolution of power from Lisbon, as well as more freedom of expression in Lisbon. Still, a great deal of the budget was devoted to supporting the wars against the insurgencies in Africa. Meanwhile in Asia, Portuguese India had fallen when the Indian army invaded in December 1961. The loss of Goa was a psychological blow to the leadership of the New State, and of the Asian empire only East Timor and Macau remained.The Caetano years (1968-74) were but a hiatus between the waning Salazar era and a new regime. There was greater political freedom and rapid economic growth (5-6 percent annually to late 1973), but Caetano's government was unable to reform the old system thoroughly and refused to consider new methods either at home or in the empire. In the end, regime change came from junior officers of the professional military who organized the Armed Forces Movement (MFA) against the Caetano government. It was this group of several hundred officers, mainly in the army and navy, which engineered a largely bloodless coup in Lisbon on 25 April 1974. Their unexpected action brought down the 48-year-old New State and made possible the eventual establishment and consolidation of democratic governance in Portugal, as well as a reorientation of the country away from the Atlantic toward Europe.Revolution of Carnations, 1974-76Following successful military operations of the Armed Forces Movement against the Caetano government, Portugal experienced what became known as the "Revolution of Carnations." It so happened that during the rainy week of the military golpe, Lisbon flower shops were featuring carnations, and the revolutionaries and their supporters adopted the red carnation as the common symbol of the event, as well as of the new freedom from dictatorship. The MFA, whose leaders at first were mostly little-known majors and captains, proclaimed a three-fold program of change for the new Portugal: democracy; decolonization of the overseas empire, after ending the colonial wars; and developing a backward economy in the spirit of opportunity and equality. During the first 24 months after the coup, there was civil strife, some anarchy, and a power struggle. With the passing of the Estado Novo, public euphoria burst forth as the new provisional military government proclaimed the freedoms of speech, press, and assembly, and abolished censorship, the political police, the Portuguese Legion, Portuguese Youth, and other New State organizations, including the National Union. Scores of political parties were born and joined the senior political party, the Portuguese Community Party (PCP), and the Socialist Party (PS), founded shortly before the coup.Portugal's Revolution of Carnations went through several phases. There was an attempt to take control by radical leftists, including the PCP and its allies. This was thwarted by moderate officers in the army, as well as by the efforts of two political parties: the PS and the Social Democrats (PPD, later PSD). The first phase was from April to September 1974. Provisional president General Antonio Spínola, whose 1974 book Portugal and the Future had helped prepare public opinion for the coup, met irresistible leftist pressures. After Spinola's efforts to avoid rapid decolonization of the African empire failed, he resigned in September 1974. During the second phase, from September 1974 to March 1975, radical military officers gained control, but a coup attempt by General Spínola and his supporters in Lisbon in March 1975 failed and Spínola fled to Spain.In the third phase of the Revolution, March-November 1975, a strong leftist reaction followed. Farm workers occupied and "nationalized" 1.1 million hectares of farmland in the Alentejo province, and radical military officers in the provisional government ordered the nationalization of Portuguese banks (foreign banks were exempted), utilities, and major industries, or about 60 percent of the economic system. There were power struggles among various political parties — a total of 50 emerged—and in the streets there was civil strife among labor, military, and law enforcement groups. A constituent assembly, elected on 25 April 1975, in Portugal's first free elections since 1926, drafted a democratic constitution. The Council of the Revolution (CR), briefly a revolutionary military watchdog committee, was entrenched as part of the government under the constitution, until a later revision. During the chaotic year of 1975, about 30 persons were killed in political frays while unstable provisional governments came and went. On 25 November 1975, moderate military forces led by Colonel Ramalho Eanes, who later was twice elected president of the republic (1976 and 1981), defeated radical, leftist military groups' revolutionary conspiracies.In the meantime, Portugal's scattered overseas empire experienced a precipitous and unprepared decolonization. One by one, the former colonies were granted and accepted independence—Guinea-Bissau (September 1974), Cape Verde Islands (July 1975), and Mozambique (July 1975). Portugal offered to turn over Macau to the People's Republic of China, but the offer was refused then and later negotiations led to the establishment of a formal decolonization or hand-over date of 1999. But in two former colonies, the process of decolonization had tragic results.In Angola, decolonization negotiations were greatly complicated by the fact that there were three rival nationalist movements in a struggle for power. The January 1975 Alvor Agreement signed by Portugal and these three parties was not effectively implemented. A bloody civil war broke out in Angola in the spring of 1975 and, when Portuguese armed forces withdrew and declared that Angola was independent on 11 November 1975, the bloodshed only increased. Meanwhile, most of the white Portuguese settlers from Angola and Mozambique fled during the course of 1975. Together with African refugees, more than 600,000 of these retornados ("returned ones") went by ship and air to Portugal and thousands more to Namibia, South Africa, Brazil, Canada, and the United States.The second major decolonization disaster was in Portugal's colony of East Timor in the Indonesian archipelago. Portugal's capacity to supervise and control a peaceful transition to independence in this isolated, neglected colony was limited by the strength of giant Indonesia, distance from Lisbon, and Portugal's revolutionary disorder and inability to defend Timor. In early December 1975, before Portugal granted formal independence and as one party, FRETILIN, unilaterally declared East Timor's independence, Indonesia's armed forces invaded, conquered, and annexed East Timor. Indonesian occupation encountered East Timorese resistance, and a heavy loss of life followed. The East Timor question remained a contentious international issue in the UN, as well as in Lisbon and Jakarta, for more than 20 years following Indonesia's invasion and annexation of the former colony of Portugal. Major changes occurred, beginning in 1998, after Indonesia underwent a political revolution and allowed a referendum in East Timor to decide that territory's political future in August 1999. Most East Timorese chose independence, but Indonesian forces resisted that verdict untilUN intervention in September 1999. Following UN rule for several years, East Timor attained full independence on 20 May 2002.Consolidation of Democracy, 1976-2000After several free elections and record voter turnouts between 25 April 1975 and June 1976, civil war was averted and Portugal's second democratic republic began to stabilize. The MFA was dissolved, the military were returned to the barracks, and increasingly elected civilians took over the government of the country. The 1976 Constitution was revised several times beginning in 1982 and 1989, in order to reempha-size the principle of free enterprise in the economy while much of the large, nationalized sector was privatized. In June 1976, General Ram-alho Eanes was elected the first constitutional president of the republic (five-year term), and he appointed socialist leader Dr. Mário Soares as prime minister of the first constitutional government.From 1976 to 1985, Portugal's new system featured a weak economy and finances, labor unrest, and administrative and political instability. The difficult consolidation of democratic governance was eased in part by the strong currency and gold reserves inherited from the Estado Novo, but Lisbon seemed unable to cope with high unemployment, new debt, the complex impact of the refugees from Africa, world recession, and the agitation of political parties. Four major parties emerged from the maelstrom of 1974-75, except for the Communist Party, all newly founded. They were, from left to right, the Communists (PCP); the Socialists (PS), who managed to dominate governments and the legislature but not win a majority in the Assembly of the Republic; the Social Democrats (PSD); and the Christian Democrats (CDS). During this period, the annual growth rate was low (l-2 percent), and the nationalized sector of the economy stagnated.Enhanced economic growth, greater political stability, and more effective central government as of 1985, and especially 1987, were due to several developments. In 1977, Portugal applied for membership in the European Economic Community (EEC), now the European Union (EU) since 1993. In January 1986, with Spain, Portugal was granted membership, and economic and financial progress in the intervening years has been significantly influenced by the comparatively large investment, loans, technology, advice, and other assistance from the EEC. Low unemployment, high annual growth rates (5 percent), and moderate inflation have also been induced by the new political and administrative stability in Lisbon. Led by Prime Minister Cavaco Silva, an economist who was trained abroad, the PSD's strong organization, management, and electoral support since 1985 have assisted in encouraging economic recovery and development. In 1985, the PSD turned the PS out of office and won the general election, although they did not have an absolute majority of assembly seats. In 1986, Mário Soares was elected president of the republic, the first civilian to hold that office since the First Republic. In the elections of 1987 and 1991, however, the PSD was returned to power with clear majorities of over 50 percent of the vote.Although the PSD received 50.4 percent of the vote in the 1991 parliamentary elections and held a 42-seat majority in the Assembly of the Republic, the party began to lose public support following media revelations regarding corruption and complaints about Prime Minister Cavaco Silva's perceived arrogant leadership style. President Mário Soares voiced criticism of the PSD's seemingly untouchable majority and described a "tyranny of the majority." Economic growth slowed down. In the parliamentary elections of 1995 and the presidential election of 1996, the PSD's dominance ended for the time being. Prime Minister Antônio Guterres came to office when the PS won the October 1995 elections, and in the subsequent presidential contest, in January 1996, socialist Jorge Sampaio, the former mayor of Lisbon, was elected president of the republic, thus defeating Cavaco Silva's bid. Young and popular, Guterres moved the PS toward the center of the political spectrum. Under Guterres, the PS won the October 1999 parliamentary elections. The PS defeated the PSD but did not manage to win a clear, working majority of seats, and this made the PS dependent upon alliances with smaller parties, including the PCP.In the local elections in December 2001, the PSD's criticism of PS's heavy public spending allowed the PSD to take control of the key cities of Lisbon, Oporto, and Coimbra. Guterres resigned, and parliamentary elections were brought forward from 2004 to March 2002. The PSD won a narrow victory with 40 percent of the votes, and Jose Durão Barroso became prime minister. Having failed to win a majority of the seats in parliament forced the PSD to govern in coalition with the right-wing Popular Party (PP) led by Paulo Portas. Durão Barroso set about reducing government spending by cutting the budgets of local authorities, freezing civil service hiring, and reviving the economy by accelerating privatization of state-owned enterprises. These measures provoked a 24-hour strike by public-sector workers. Durão Barroso reacted with vows to press ahead with budget-cutting measures and imposed a wage freeze on all employees earning more than €1,000, which affected more than one-half of Portugal's work force.In June 2004, Durão Barroso was invited by Romano Prodi to succeed him as president of the European Commission. Durão Barroso accepted and resigned the prime ministership in July. Pedro Santana Lopes, the leader of the PSD, became prime minister. Already unpopular at the time of Durão Barroso's resignation, the PSD-led government became increasingly unpopular under Santana Lopes. A month-long delay in the start of the school year and confusion over his plan to cut taxes and raise public-sector salaries, eroded confidence even more. By November, Santana Lopes's government was so unpopular that President Jorge Sampaio was obliged to dissolve parliament and hold new elections, two years ahead of schedule.Parliamentary elections were held on 20 February 2005. The PS, which had promised the electorate disciplined and transparent governance, educational reform, the alleviation of poverty, and a boost in employment, won 45 percent of the vote and the majority of the seats in parliament. The leader of the PS, José Sôcrates became prime minister on 12 March 2005. In the regularly scheduled presidential elections held on 6 January 2006, the former leader of the PSD and prime minister, Aníbal Cavaco Silva, won a narrow victory and became president on 9 March 2006. With a mass protest, public teachers' strike, and street demonstrations in March 2008, Portugal's media, educational, and social systems experienced more severe pressures. With the spreading global recession beginning in September 2008, Portugal's economic and financial systems became more troubled.Owing to its geographic location on the southwestern most edge of continental Europe, Portugal has been historically in but not of Europe. Almost from the beginning of its existence in the 12th century as an independent monarchy, Portugal turned its back on Europe and oriented itself toward the Atlantic Ocean. After carving out a Christian kingdom on the western portion of the Iberian peninsula, Portuguese kings gradually built and maintained a vast seaborne global empire that became central to the way Portugal understood its individuality as a nation-state. While the creation of this empire allows Portugal to claim an unusual number of "firsts" or distinctions in world and Western history, it also retarded Portugal's economic, social, and political development. It can be reasonably argued that the Revolution of 25 April 1974 was the most decisive event in Portugal's long history because it finally ended Portugal's oceanic mission and view of itself as an imperial power. After the 1974 Revolution, Portugal turned away from its global mission and vigorously reoriented itself toward Europe. Contemporary Portugal is now both in and of Europe.The turn toward Europe began immediately after 25 April 1974. Portugal granted independence to its African colonies in 1975. It was admitted to the European Council and took the first steps toward accession to the European Economic Community (EEC) in 1976. On 28 March 1977, the Portuguese government officially applied for EEC membership. Because of Portugal's economic and social backwardness, which would require vast sums of EEC money to overcome, negotiations for membership were long and difficult. Finally, a treaty of accession was signed on 12 June 1985. Portugal officially joined the EEC (the European Union [EU] since 1993) on 1 January 1986. Since becoming a full-fledged member of the EU, Portugal has been steadily overcoming the economic and social underdevelopment caused by its imperial past and is becoming more like the rest of Europe.Membership in the EU has speeded up the structural transformation of Portugal's economy, which actually began during the Estado Novo. Investments made by the Estado Novo in Portugal's economy began to shift employment out of the agricultural sector, which, in 1950, accounted for 50 percent of Portugal's economically active population. Today, only 10 percent of the economically active population is employed in the agricultural sector (the highest among EU member states); 30 percent in the industrial sector (also the highest among EU member states); and 60 percent in the service sector (the lowest among EU member states). The economically active population numbers about 5,000,000 employed, 56 percent of whom are women. Women workers are the majority of the workforce in the agricultural and service sectors (the highest among the EU member states). The expansion of the service sector has been primarily in health care and education. Portugal has had the lowest unemployment rates among EU member states, with the overall rate never being more than 10 percent of the active population. Since joining the EU, the number of employers increased from 2.6 percent to 5.8 percent of the active population; self-employed from 16 to 19 percent; and employees from 65 to 70 percent. Twenty-six percent of the employers are women. Unemployment tends to hit younger workers in industry and transportation, women employed in domestic service, workers on short-term contracts, and poorly educated workers. Salaried workers earn only 63 percent of the EU average, and hourly workers only one-third to one-half of that earned by their EU counterparts. Despite having had the second highest growth of gross national product (GNP) per inhabitant (after Ireland) among EU member states, the above data suggest that while much has been accomplished in terms of modernizing the Portuguese economy, much remains to be done to bring Portugal's economy up to the level of the "average" EU member state.Membership in the EU has also speeded up changes in Portuguese society. Over the last 30 years, coastalization and urbanization have intensified. Fully 50 percent of Portuguese live in the coastal urban conurbations of Lisbon, Oporto, Braga, Aveiro, Coimbra, Viseu, Évora, and Faro. The Portuguese population is one of the oldest among EU member states (17.3 percent are 65 years of age or older) thanks to a considerable increase in life expectancy at birth (77.87 years for the total population, 74.6 years for men, 81.36 years for women) and one of the lowest birthrates (10.59 births/1,000) in Europe. Family size averages 2.8 persons per household, with the strict nuclear family (one or two generations) in which both parents work being typical. Common law marriages, cohabitating couples, and single-parent households are more and more common. The divorce rate has also increased. "Youth Culture" has developed. The young have their own meeting places, leisure-time activities, and nightlife (bars, clubs, and discos).All Portuguese citizens, whether they have contributed or not, have a right to an old-age pension, invalidity benefits, widowed persons' pension, as well as payments for disabilities, children, unemployment, and large families. There is a national minimum wage (€385 per month), which is low by EU standards. The rapid aging of Portugal's population has changed the ratio of contributors to pensioners to 1.7, the lowest in the EU. This has created deficits in Portugal's social security fund.The adult literacy rate is about 92 percent. Illiteracy is still found among the elderly. Although universal compulsory education up to grade 9 was achieved in 1980, only 21.2 percent of the population aged 25-64 had undergone secondary education, compared to an EU average of 65.7 percent. Portugal's higher education system currently consists of 14 state universities and 14 private universities, 15 state polytechnic institutions, one Catholic university, and one military academy. All in all, Portugal spends a greater percentage of its state budget on education than most EU member states. Despite this high level of expenditure, the troubled Portuguese education system does not perform well. Early leaving and repetition rates are among the highest among EU member states.After the Revolution of 25 April 1974, Portugal created a National Health Service, which today consists of 221 hospitals and 512 medical centers employing 33,751 doctors and 41,799 nurses. Like its education system, Portugal's medical system is inefficient. There are long waiting lists for appointments with specialists and for surgical procedures.Structural changes in Portugal's economy and society mean that social life in Portugal is not too different from that in other EU member states. A mass consumption society has been created. Televisions, telephones, refrigerators, cars, music equipment, mobile phones, and personal computers are commonplace. Sixty percent of Portuguese households possess at least one automobile, and 65 percent of Portuguese own their own home. Portuguese citizens are more aware of their legal rights than ever before. This has resulted in a trebling of the number of legal proceeding since 1960 and an eight-fold increase in the number of lawyers. In general, Portuguese society has become more permissive and secular; the Catholic Church and the armed forces are much less influential than in the past. Portugal's population is also much more culturally, religiously, and ethnically diverse, a consequence of the coming to Portugal of hundreds of thousands of immigrants, mainly from former African colonies.Portuguese are becoming more cosmopolitan and sophisticated through the impact of world media, the Internet, and the World Wide Web. A prime case in point came in the summer and early fall of 1999, with the extraordinary events in East Timor and the massive Portuguese popular responses. An internationally monitored referendum in East Timor, Portugal's former colony in the Indonesian archipelago and under Indonesian occupation from late 1975 to summer 1999, resulted in a vote of 78.5 percent for rejecting integration with Indonesia and for independence. When Indonesian prointegration gangs, aided by the Indonesian military, responded to the referendum with widespread brutality and threatened to reverse the verdict of the referendum, there was a spontaneous popular outpouring of protest in the cities and towns of Portugal. An avalanche of Portuguese e-mail fell on leaders and groups in the UN and in certain countries around the world as Portugal's diplomats, perhaps to compensate for the weak initial response to Indonesian armed aggression in 1975, called for the protection of East Timor as an independent state and for UN intervention to thwart Indonesian action. Using global communications networks, the Portuguese were able to mobilize UN and world public opinion against Indonesian actions and aided the eventual independence of East Timor on 20 May 2002.From the Revolution of 25 April 1974 until the 1990s, Portugal had a large number of political parties, one of the largest Communist parties in western Europe, frequent elections, and endemic cabinet instability. Since the 1990s, the number of political parties has been dramatically reduced and cabinet stability increased. Gradually, the Portuguese electorate has concentrated around two larger parties, the right-of-center Social Democrats (PSD) and the left-of-center Socialist (PS). In the 1980s, these two parties together garnered 65 percent of the vote and 70 percent of the seats in parliament. In 2005, these percentages had risen to 74 percent and 85 percent, respectively. In effect, Portugal is currently a two-party dominant system in which the two largest parties — PS and PSD—alternate in and out of power, not unlike the rotation of the two main political parties (the Regenerators and the Historicals) during the last decades (1850s to 1880s) of the liberal constitutional monarchy. As Portugal's democracy has consolidated, turnout rates for the eligible electorate have declined. In the 1970s, turnout was 85 percent. In Portugal's most recent parliamentary election (2005), turnout had fallen to 65 percent of the eligible electorate.Portugal has benefited greatly from membership in the EU, and whatever doubts remain about the price paid for membership, no Portuguese government in the near future can afford to sever this connection. The vast majority of Portuguese citizens see membership in the EU as a "good thing" and strongly believe that Portugal has benefited from membership. Only the Communist Party opposed membership because it reduces national sovereignty, serves the interests of capitalists not workers, and suffers from a democratic deficit. Despite the high level of support for the EU, Portuguese voters are increasingly not voting in elections for the European Parliament, however. Turnout for European Parliament elections fell from 40 percent of the eligible electorate in the 1999 elections to 38 percent in the 2004 elections.In sum, Portugal's turn toward Europe has done much to overcome its backwardness. However, despite the economic, social, and political progress made since 1986, Portugal has a long way to go before it can claim to be on a par with the level found even in Spain, much less the rest of western Europe. As Portugal struggles to move from underde-velopment, especially in the rural areas away from the coast, it must keep in mind the perils of too rapid modern development, which could damage two of its most precious assets: its scenery and environment. The growth and future prosperity of the economy will depend on the degree to which the government and the private sector will remain stewards of clean air, soil, water, and other finite resources on which the tourism industry depends and on which Portugal's world image as a unique place to visit rests. Currently, Portugal is investing heavily in renewable energy from solar, wind, and wave power in order to account for about 50 percent of its electricity needs by 2010. Portugal opened the world's largest solar power plant and the world's first commercial wave power farm in 2006.An American documentary film on Portugal produced in the 1970s described this little country as having "a Past in Search of a Future." In the years after the Revolution of 25 April 1974, it could be said that Portugal is now living in "a Present in Search of a Future." Increasingly, that future lies in Europe as an active and productive member of the EU.
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