The purpose of this article is to reflect on the state of Portuguese democracy during the time within which the Troika (IMF, EC & ECB) bailout has been in effect (2011-2014). We analyse the outcome of the 2011 elections, the party manifestos and the main thrust of the 2011 Troika programme. We show how the practical application of austerity programme collided, or not, with the mandate received from the electorate by the governing parties. We also analyse the questions of asymmetrical austerity and the socioeconomic results of austerity (and other) policies. We scrutinize the format of the party system between 1975 and 2014. Using mass survey data, we test the impact of citizens’ perceptions of violations of political mandates, asymmetric austerity, the economy, and left-wing alternatives on regime support and political trust.
