This paper is an essay on the problematic of the globalization of political power and on the increased relevance of institutions in contexts of multifaceted populism. A case study of the Portuguese justice system was used to illustrate the arguments presented. First, the Troika intervention in Portugal is offered as an instance of globalization of political power. Secondly, a model of argumentation analysis of political parties is used to contend that the media coverage of the discourse about austerity during the period of external intervention constituted what can be called multifaceted populism. Finally, the Directorate-General for Justice Policy is presented as an example of the decisive and increased role that institutions can play in times of crisis by presenting a factual and dispassionate vision of the results obtained at the level of public policies.