Forty years ago, the European public was surprised by the Portuguese Carnation Revolution. Revolutionary military officers had overthrown a fascist dictatorship and seemed determined to establish a socialist society in a NATO country, in alliance with a militant labor movement. In the meantime, the "lords of Portugal," who were ousted at that time, have returned; the new elite is firmly connected to Euro-bureaucracy and implements its neoliberal strategies. On the other hand, during the penultimate general strike, a block of 100 officers participated in the demonstrations. The events of 1974/75 are still a topic of debate. Officially, it was seen as a successful transition to a parliamentary democracy and the effective defense against a "left dictatorship." So what kind of revolution was the Carnation Revolution? Who were the key players?.