José Luís Carneiro, secretary-general of the Socialist Party (Partido Socialista or PS), said the government should prepare a targeted plan to blunt the economic effects of the war in Iran, citing expected rises in fuel, food and housing-loan costs. Former economy minister António Costa Silva urged rapid action to identify energy‑intensive sectors and design specific support, warning that Portugal's growth and export performance are already weaker than expected. Businesses in transport, food distribution and energy-intensive manufacturing should follow any government announcements on sectoral relief measures.
PS urges mitigation plan for war-driven shocks
Saturday, 7 March 2026AI summary
Context & Explainers
Socialist Party (PS)
- Leader: José Luís Carneiro (since June 2025)
- Ideology: Center-left, Social democracy, pro-Europeanism
Portugal's other traditional major party suffered a historic collapse in the 2025 election, dropping from 78 to 58 seats and falling to third place for the first time in democratic history. The party was led by Pedro Nuno Santos from January 2024 until his resignation following the May 2025 defeat. José Luís Carneiro, a 53-year-old former Minister of Internal Administration known for his moderate positioning within the party, was elected unopposed as the new Secretary-General with 95% of votes in June 2025. The Socialist Party governed Portugal from 2015 to 2024, including an absolute majority from 2022 to 2024 under António Costa, who resigned in November 2023 amid a corruption investigation. The PS previously led the innovative "Geringonça" (contraption) coalition government from 2015-2019, a minority government supported by the Left Bloc and Portuguese Communist Party that reversed austerity measures and presided over economic recovery.
- President of the European Council (since Dec 2024)
- Former Prime Minister of Portugal (November 2015 – April 2024)
- Party: Socialist Party (PS) Partido Socialista
- He is of Portuguese and Indian (Goan) descent
António Luís Santos da Costa (born July 17, 1961, in Lisbon) is a Portuguese lawyer and Socialist politician who served as Prime Minister of Portugal from 2015-2024 and currently serves as President of the European Council since December 1, 2024. After leading the Lisbon Municipal Assembly and practicing law, he was elected MEP (2004-2005) and entered parliament in 2002. He led the Socialist Party from 2014-2024, building unprecedented parliamentary coalitions with the Communist Party and Left Bloc (2015-2019) before winning an absolute majority in 2022. He resigned as PM in November 2023 following a corruption investigation, though subsequently cleared. The 27 EU member states elected him Council President in June 2024, making him the fourth full-time President and the first southern European socialist in that role.
Political Philosophy:
Costa represents moderate European social democracy, combining orthodox fiscal responsibility with progressive social investment. He prioritizes European integration, consensus-building, and pragmatic compromise over ideological confrontation. As Council President, he champions mediation between member states, improved EU inter-institutional relations, shorter decision-making processes, and regular visits to every EU capital to reconnect citizens with European institutions. His approach emphasizes "creative bridges" reconciling divergent interests while maintaining firmness on European values, particularly regarding Ukraine.
Sources (3)
- PS Secretary-General wants "mitigation plan for the effects" of the war on the economyExpresso · 8:24am, 7 Mar 2026
- António Costa Silva: Government must outline a specific package for industries nowDiário de Notícias · 11:43am, 7 Mar 2026
- PS Secretary-General calls for "plan to mitigate effects" on the economyDinheiro Vivo · 9:52am, 7 Mar 2026
