We commemorate today with joy, and in a brotherly and warm atmosphere, the 76th Anniversary of our Party, a few months after our XVth Congress, where we clearly stated our identity, our theoretical foundation, our objectives.

This Conference is not a magic wand nor a recipe book, however much the proposals contained in the Resolution may appear to you to be so. There should be no illusions. There should be no expectations other than those that result from a renewed confidence in our Party. In its purpose, in its strength. In the strength and purpose of the workers' struggle.

I - The electoral results and their significance

1. The most significant result of the October 1st general elections is the major defeat of the PSD, of its Government and of [outgoing Prime Minister] Cavaco Silva, which expresses a profound condemnation of the right-wing policies which they imposed upon the country.