Mr. Evangelos Mytilineos, Executive Chairman of METLEN, was a guest on CNBC’s Squawk Box Europe, where, in conversation with Steve Sedgwick and Ian King, he discussed the geopolitical challenges facing Europe, the continent’s position in a rapidly changing global landscape, and the need to safeguard European industry and strategic resources.
Commenting on the latest geopolitical developments surrounding Ukraine and the prospect of discussions between the world’s major powers, Mr. Mytilineos highlighted the broader implications for Europe’s role on the global stage. Referring to Vladimir Putin’s proposal for a meeting with Presidents Trump and Xi, he noted that such a discussion could effectively become a “new Yalta”. He stressed that if the future of Europe and Ukraine is discussed without meaningful European participation, this raises a fundamental question about whether Europe can still consider itself a global player.
Turning to Europe’s economic and industrial position, Mr. Mytilineos noted that the continent has traditionally relied on its strong soft power, supported by its culture, innovation, industrial capabilities, universities and intellectual property. However, he underlined that this model was also built on access to affordable energy, large export markets and the security umbrella of the United States, conditions which can no longer be taken for granted. Against this backdrop, he stressed the importance of protecting Europe’s industrial base and strengthening its competitiveness.
Mr. Mytilineos also pointed to aluminium scrap as a clear example of the challenges facing European industry. While Europe seeks to accelerate decarbonisation and increase recycling, valuable strategic raw materials continue to leave the continent. At the same time, he noted that the United States imposes a 50% tariff on primary aluminium while applying zero tariff to scrap, with European aluminium scrap exports to the US having increased by 243%. “Europe cannot pursue industrial competitiveness while allowing the resources needed for that industry to flow elsewhere,” he said.
METLEN's Executive Chairman also pointed out the significance of energy storage. He noted that the Company has extensive experience in the sector, having delivered numerous Battery Energy Storage Systems in the UK, and also recently inaugurated the largest standalone battery system in Greece, which is also one of the largest of its kind in Europe, with a power capacity of 330 MW. As he remarked, the storage sector is important in the security of supply of power.
Concluding, Mr. Mytilineos stressed that Europe does not need to abandon the qualities that have historically underpinned its strength, but rather complement them with a stronger focus on energy security and affordability, industrial competitiveness and strategic autonomy. Europe’s future, he argued, will depend on its ability to leverage its industries, ideas and innovation and translate those strengths into meaningful global influence.
