Over the next few years, the party moderated a bit, but it never clearly shed its radicalism and undertook no major reforms of party principles even after Lula's defeat in the 1989 presidential elections. For example, the resolution from the party's 8th National Meeting in 1993 reaffirmed PT's "revolutionary and socialist character", condemned the "conspiracy" of the elites to subvert democracy, stated that the party advocated "radical agrarian reform and suspension of the external debt" and concluded that "capitalism and private property cannot provide a future for humanity".