The Carnation Revolution (so-called due to its relatively peaceful unfolding and its leftist character) began in Portugal on April 25, 1974 sweeping away decades of fascist rule and bringing to power a popular and far left/Communist influenced government. The revolution not only liberated the Portuguese people from fascism, it also ultimately led to the end of the Portuguese colonial empire. After a series of sweeping reforms and democratization in all aspects of Portuguese society the far left attempted to seize power in November, 1975 and failed. This led to a wave of counter-revolution that, after elections in 1976, entrenched a liberal capitalist system in power.
Despite this setback the importance of the revolution for the people of Portugal, as well as for the people of countries like Angola and Mozambique, should not be underestimated. It stands as a magnificent example of how the power of the people can bring dramatic and positive change.
To learn more about the aims of the revolutionary government see our post: Portugal Freedom Year One 1926 - 1975, Ministry of Mass Communication