Jacobin Radio

Long Reads spoke to Yanis Varoufakis earlier in the year to mark the tenth anniversary of the Greek referendum on the austerity programs of the European Union. This week, we’re going to be looking at another country that bore the brunt of Euro-austerity after the 2008 crash. Ten years ago, the Portuguese Socialist leader Antonio Costa formed a government with the support of two radical-left parties, the Left Bloc and the Communist Party. Costa’s government appeared to be a success story for the European center left at a time when most of its parties were losing ground. Portugal also stood out as one of the few West European countries where the far right was still a marginal force. Costa’s party increased their vote share in 2019 and he remained in office. In the election of 2022, the Portuguese Socialists even won an absolute majority. But Costa resigned as prime minister two years later and his party lost power after the fourth general election in less than a decade. Another general election this year was a