The austerity measures dictated to Portugal by the Troika’s Memorandum are nearing completion and should be fully implemented by May 2014. The impact on Portuguese society is huge. As a consequence of these policies unemployment has risen, the phenomenon of emigration has returned, the social state has been dismantled, and all major public enterprises sold off. In what follows we will try to convey what is happening in Portugal. After laying out the context, we will discuss the austerity measures and their consequences and then outline Portugal’s political scenario and the activity of its social movements. Finally, we will discuss the European elections within Portugal and the strategy of left parties.