The systematics of the even light P o isotopes (N 126) are studied in the framework of the Particle-Core Model. The strong perturbation of the systematics in the very light isotopes is interpreted as arising from the interaction between regular and intruder structures. Results of Potential Energy Surface (PES) calculations and predictions of the Pairing Vibration Model support this interpretation. The mixing between the regular and intruder structures is studied within the IBM-2 and in a simple two-state mixing picture. Matrix elements of the interaction and their spin-dependence are extracted. The 'reconstructed systematics' show the coexistence of a spherical structure, which v aries little with the neutron number, with an intruder band, strongly lowered in energy as the neutron numberapproaches midshell. The crossing of the two con gurations takes place over a few isotopes; the intruder band becomes the ground-state con guration in 192 Po.