I left you all in the middle 40s, talking about Globalization. By then England had left India and Portugal was still in Goa and 2 other cities, and was just starting a colonial war in Africa, defending commodities wanted by the new Powers, and policies and politics that were mostly undefensible. Some great amounts of money and lives were both spent on war and building up Angola and Mozambique (Ultramar), at the expense of the "Metropole", (What is left). In 1974, unable to sustain the Status Quo, the dictatorship falls. 1975 the colonies become independent, and over 1 000 000 people come back to the "Metropole". Remember 1974, Oli crisis, recession, Watergate, etc. Now imagine increasing the population overnight by 10 to 15%, and almost all in need of all basic necessities. All Capital had left the country and most industries came to an halt for 4 or 5 years.
During these times, we had 12 or 13 Governments and various coups and attempts on Power by both sides. It was in this clima that a 'New Constitution" was written and passed in a Democratic vote, that unfortunetly saddled the country with some impossible to meet demands. Under the fear of recent past events and abuses of power against the People, the mandate of the new Constitution created laws that have rendered most business activities in the country uncompetitive, namely: rentals, leasing, labor, commerce hours, education, mortgages, etc. With this much regulation, most families relied on self-employement, small retail and farming to make a comfortable living.
When we joined the EU, the first round of funding was mostly spent on fast cars and faster women ( which makes the idea that there is a problem with the Portuguese libido quite ridiculous). The subsquent rounds were watched more closely and used to upgrade the obsolet infratructure. Meanwhile the other members started dumping their products at prices the local producers could not afford and had to go under. This same scenario happened to the other so called periphery countries, which was the dream envisioned by France and Germany.