2 Euro (Carnation Revolution) – Portugal
Circulating commemorative coins
Commemoration: 50 years of Carnation Revolution
Portugal
Context
Year: 2024
Issuer: Portugal 
Issuing organization: Bank of Portugal
Period:
(since 1974)
Currency:
(since 2002)
Total mintage: 514,926
Material
References
KM: #Click to copy to clipboard953
Numista: #407939
Value
Exchange value: 2 EUR = $2.36
Inflation-adjusted value: 2.03 EUR
Obverse
Description:
The coin centers on a carnation, symbolizing the revolution, encircled by rings. Along the right edge is the verse “Esta é a madrugada que eu esperava” from Sophia de Mello Breyner Andresen. At the bottom are Portugal’s coat of arms, the issuing state, and the dates “04/25/1974_2024”. The designer “HENRIQUE CAYATTE” and mint “CASA DA MOEDA” appear above left. The outer ring features the twelve stars of the European flag.
Inscription:
Portugal
25.04.1974_ 2024
HENRIQUE CAYATTE
CASA DA MOEDA
Esta é a madrugada que eu esperava
in »O Nome das Coisas« Sophie de Mello Breyner Andresen
25.04.1974_ 2024
HENRIQUE CAYATTE
CASA DA MOEDA
Esta é a madrugada que eu esperava
in »O Nome das Coisas« Sophie de Mello Breyner Andresen
Translation:
Portugal
25.04.1974_ 2024
HENRIQUE CAYATTE
CASA DA MOEDA
This is the dawn I was waiting for
in "The Name of Things" by Sophie de Mello Breyner Andresen
25.04.1974_ 2024
HENRIQUE CAYATTE
CASA DA MOEDA
This is the dawn I was waiting for
in "The Name of Things" by Sophie de Mello Breyner Andresen
Script: Latin
Language: Portuguese
Designer: Henrique Cayatte
Reverse
Edge
Finely reeded with inscription: seven castles and five coats of arms
Categories
| Map |
| Event> Revolution |
Mints
| Name | Mark |
|---|---|
| Imprensa Nacional - Casa da Moeda | — |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 2024 | — | 7,436 | BU | |
| 2024 | — | 7,490 | Proof | |
| 2024 | — | 500,000 |
Historical background
Portugal's currency situation in 2024 is firmly anchored within the Eurozone framework, using the euro (€) as its sole legal tender. As a member of the European Union and a participant in the Economic and Monetary Union (EMU), Portugal's monetary policy is set by the European Central Bank (ECB). The primary domestic concerns, therefore, revolve around navigating the ECB's interest rate policies aimed at curbing eurozone inflation, which impact national borrowing costs, mortgages, and business investment. The country's economic stability is intrinsically linked to the common currency, which provides exchange rate stability and deep financial market integration but also removes the tool of independent monetary policy to address local economic conditions.
The key focus for Portugal in 2024 is managing the lingering effects of higher interest rates on its public and private debt. While inflation has receded from its peaks, the ECB's restrictive stance continues to pressure a nation with a high level of household and public debt. The government's budgetary strategy is constrained by the need to balance fiscal consolidation under EU rules with support for vulnerable sectors and continued investment fueled by the EU's Recovery and Resilience Plan (RRP). Portugal's economic performance, including its strong tourism sector and growing tech industry, influences its credit ratings and the risk premium on its sovereign bonds within the euro area.
Looking ahead, the currency debate in Portugal is less about abandoning the euro—a move supported by only a small minority—and more about advocating for its interests within the Eurozone's fiscal and monetary governance. Discussions center on ensuring that ECB policy considers the varying economic conditions across the bloc and on pushing for further EU-level integration, such as a completed banking union and common fiscal tools, to better shield smaller economies like Portugal from asymmetric shocks. The stability of the euro remains a foundational pillar for the Portuguese economy, even as it navigates the challenges of a one-size-fits-all monetary policy.
The key focus for Portugal in 2024 is managing the lingering effects of higher interest rates on its public and private debt. While inflation has receded from its peaks, the ECB's restrictive stance continues to pressure a nation with a high level of household and public debt. The government's budgetary strategy is constrained by the need to balance fiscal consolidation under EU rules with support for vulnerable sectors and continued investment fueled by the EU's Recovery and Resilience Plan (RRP). Portugal's economic performance, including its strong tourism sector and growing tech industry, influences its credit ratings and the risk premium on its sovereign bonds within the euro area.
Looking ahead, the currency debate in Portugal is less about abandoning the euro—a move supported by only a small minority—and more about advocating for its interests within the Eurozone's fiscal and monetary governance. Discussions center on ensuring that ECB policy considers the varying economic conditions across the bloc and on pushing for further EU-level integration, such as a completed banking union and common fiscal tools, to better shield smaller economies like Portugal from asymmetric shocks. The stability of the euro remains a foundational pillar for the Portuguese economy, even as it navigates the challenges of a one-size-fits-all monetary policy.
Series: Portugal 2 euro commemoratives
🌱 Common