Timeline
1971
August: Practical end of the “Bretton Woods system” due to the Nixon Administration’s decision to suspend the convertibility of the US dollar to gold
1973
October: Oil shock - embargo of oil exports to certain European countries by the Arab members of the Organisation of Petroleum Exporting Countries (OPEC)
1974
April: Carnation Revolution in Portugal, ending the almost 50-year old authoritarian regime of the Estado Novo and the Colonial War in which Portugal was involved in Africa since 1961
September: First independence of a Portuguese colony - Guinea
1975
March: Beginning of the nationalisation programme affecting the assets of business groups, and occupation of large estates under a process of Agrarian Reform
June-November: Independence of African overseas provinces
November: Failed coup d’ etat by radical left-wing forces leading to a practical end of the revolutionary period
1976
April: New Constitution and formal end of the revolutionary period; first elections
July: First non-revolutionary Government
1977
March: Portugal applies to become a member of European Economic Community (EEC)
April: First Stand-by arrangement (SBA) between Portugal and the International Monetary Fund (IMF) for the period between April 1977 and April 1978
1978
June: Second SBA between Portugal and the IMF for the period between June 1978 and May 1979
1983
September: Third SBA between Portugal and the IMF for the period between October 1983 and February 1985
1985
June: Conclusion of negotiations for Portugal’s membership of the EEC
1986
January: Portugal joins EEC
1971
August: Practical end of the “Bretton Woods system” due to the Nixon Administration’s decision to suspend the convertibility of the US dollar to gold
1973
October: Oil shock - embargo of oil exports to certain European countries by the Arab members of the Organisation of Petroleum Exporting Countries (OPEC)
1974
April: Carnation Revolution in Portugal, ending the almost 50-year old authoritarian regime of the Estado Novo and the Colonial War in which Portugal was involved in Africa since 1961
September: First independence of a Portuguese colony - Guinea
1975
March: Beginning of the nationalisation programme affecting the assets of business groups, and occupation of large estates under a process of Agrarian Reform
June-November: Independence of African overseas provinces
November: Failed coup d’ etat by radical left-wing forces leading to a practical end of the revolutionary period
1976
April: New Constitution and formal end of the revolutionary period; first elections
July: First non-revolutionary Government
1977
March: Portugal applies to become a member of European Economic Community (EEC)
April: First Stand-by arrangement (SBA) between Portugal and the International Monetary Fund (IMF) for the period between April 1977 and April 1978
1978
June: Second SBA between Portugal and the IMF for the period between June 1978 and May 1979
1983
September: Third SBA between Portugal and the IMF for the period between October 1983 and February 1985
1985
June: Conclusion of negotiations for Portugal’s membership of the EEC
1986
January: Portugal joins EEC
