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Government attempts to tackle its negative externalities through a series of austerity measures did not prove successful on various grounds. Poor scoring in the economy generated social unrest. This article tries to assess the reaction of the Portuguese citizenry to the symptoms of failure in economic governance, particularly in what concerns their attitudes vis-\u00e0-vis the political realm by using different survey data sets. The analysis reveals that the decline in economic performance and in quality of governance is clearly reflected in citizens\u2019 rising discontent with the performance of democracy and suggests even negative spillover effects for regime support. The available data also suggest that any expectations that the economic crisis might have ignited in citizens\u2019 engagement in political issues seem only partially fulfilled.<\/jats:p>","DOI":"10.1177\/0002764214534666","type":"journal-article","created":{"date-parts":[[2014,5,28]],"date-time":"2014-05-28T00:50:05Z","timestamp":1401238205000},"page":"1517-1541","update-policy":"https:\/\/doi.org\/10.1177\/sage-journals-update-policy","source":"Crossref","is-referenced-by-count":29,"title":["Sovereign Debt and Governance Failures"],"prefix":"10.1177","volume":"58","author":[{"given":"Lu\u00eds","family":"de Sousa","sequence":"first","affiliation":[{"name":"University of Aveiro, Aveiro, Portugal"}]},{"given":"Pedro C.","family":"Magalh\u00e3es","sequence":"additional","affiliation":[{"name":"Institute of Social Sciences, University of Lisbon, Lisbon, Portugal"}]},{"given":"Luciano","family":"Amaral","sequence":"additional","affiliation":[{"name":"Nova School of Business and Economics, Lisbon, Portugal"}]}],"member":"179","published-online":{"date-parts":[[2014,5,27]]},"reference":[{"key":"bibr1-0002764214534666","doi-asserted-by":"publisher","DOI":"10.1177\/0010414000033008001"},{"key":"bibr2-0002764214534666","doi-asserted-by":"publisher","DOI":"10.1515\/9781400874569"},{"key":"bibr3-0002764214534666","doi-asserted-by":"publisher","DOI":"10.1080\/714000256"},{"key":"bibr4-0002764214534666","volume-title":"Economia Portuguesa, As \u00daltimas D\u00e9cadas","author":"Amaral L.","year":"2010"},{"key":"bibr5-0002764214534666","doi-asserted-by":"publisher","DOI":"10.2307\/2952259"},{"key":"bibr6-0002764214534666","unstructured":"Andreev S. 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