Since the beginning ofliberalism inPortugal in the 19th century, several parties have, by gaining representation in parliament, continued the liberal ideology in contemporary Portuguese politics. But after the initial fervor of theLiberal Revolution of 1820 and the outcome of theLiberal Wars (1828–1834) during the 19th century, liberalism was relegated to a secondary role in Portuguese politics and government and even outlawed for periods of time. The first fully-fledged liberal party (a political party professing classical liberalism including pro-market, business-friendlyeconomic liberalism,small government andindividual freedom as core tenets of its ideology) founded as such to have a seat in thePortuguese Parliament since the end of theFirst Portuguese Republic (1910–1926), was theLiberal Initiative, in 2019.[1][2][3]
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Francisco Sá Carneiro became a member of the Portuguese National Assembly in 1969 under theEstado Novo dictatorial regime (1933-1974) and, in turn, one of the leaders of the "Liberal Wing" (Ala Liberal) of the National Assembly (the Portuguese legislature during the Estado Novo regime) which attempted to work for the gradual transformation of António de Oliveira Salazar's dictatorship into a Western Europeanliberal democracy.[3] In May 1974, a month after theCarnation Revolution, Sá Carneiro and others founded the Popular Democratic Party (PPD) the original name of theSocial Democratic Party (PSD). The Social Democratic Party was a full right member of theLiberal International, from 1985 until 1996. The party leaned towardseconomic liberalism sinceAníbal Cavaco Silva served asPrime Minister of Portugal from 1985 to 1995 (a period marked by high economic growth in the country) and later asPresident of Portugal from 2006 to 2016. From June 2011 to November 2015, after a IMF-European Union orchestrated bailout to the insolvent Portuguese Republic has been requested by the incumbent Prime MinisterJosé Sócrates of theSocialist Party on 6 April 2011,Pedro Passos Coelho of the Social Democratic Party served as Prime Minister and his policies and proposals, in accordance with the recommendations made by theEuropean troika to the Portuguese Republic, were regarded by the left as aligned with economic liberalism after decades of left-leaning, labor movement-inspired policies enacted by Portuguese socialist politicians and their political allies[4] before the ultimate signals of financial collapse of the Republic arose in 2010.[5] However, many of Pedro Passos Coelho cabinet's proposals from 2011 to 2015 didn't pass due to the anti-liberal,labor movement-inspiredPortuguese law.[6][7]

| School | Party | Leaders | |
|---|---|---|---|
| Liberalism | Liberal Initiative | ||
| Conservative liberalism | Social Democratic Party | ||