Portugal’s middle-class at risk of “implosion”

Entitled «A Classe Média: Ascensão e Declínio», it shows how “in just a few decades” Portuguese society went from a predominantly rural one to “markedly urban”. After the 80s Portugal was impelled into on “a kind of political and economic euphoria” engineered by the European Community.

Zeal to take on European styles of life, and embrace credit, resulted in a rapid rise of the middle class that is “now imploding, just as rapidly and abruptly, as a result of the crisis and measures of austerity”. According to Estanque, the extent of the decline is impossible to predict “as the medium term costs of a sick society, incapable of responding to the needs of the country” are not being adequately gauged.