PASOK MEP Nikolas Farantouris spoke in favor of a new EU industrial policy, with specific reference to reducing high energy costs, innovation, and the importance of the metals sector, was made by PASOK MEP Nikolas Farantouris speaking today at the European Metals Annual Conference in Brussels, one year after the adoption of the Steel and Metals Action Plan.
Nikolas Farantouris emphasized that efforts to strengthen European defense cannot lead to true strategic autonomy unless they are accompanied by innovation and a strong and competitive European metals industry. “Without European metals, there is no European defense. And without a competitive European metallurgy sector, strategic autonomy will remain a pipe dream,” he noted.
*Energy costs are killing competitiveness*
The Greek MEP emphasized that metal production in Europe—particularly non-ferrous metals—is among the most energy-intensive industries worldwide. As long as European industries—and the economy as a whole—are forced to compete with electricity and natural gas prices that are two or three times higher than those of their competitors, production will continue to move outside Europe.
“When we lose manufacturing, we don’t just lose factories. We lose know-how, a skilled workforce, and entire value chains that are extremely difficult to recover,” he noted.
Mr. Farantouris placed particular emphasis on the high-quality jobs that Europe—and Greece in particular—needs. As he noted, maintaining and developing a modern and innovative industry with healthy competition in Europe can create well-paid, highly skilled jobs, particularly in regional areas, helping to keep young scientists and technicians in our country.
“Greece doesn’t just need jobs. It needs high-quality, well-paid jobs that make the most of the country’s expertise and human capital,” he stated emphatically.
The PASOK MEP concluded by saying that securing European metals for Europe’s defense needs will facilitate the transition to European metals for industry —from electric cars to renewable energy sources and digital infrastructure. “Strategic autonomy begins with the foundry and energy prices. If we are to achieve this for defense, we must also achieve it for the rest of the economy and society as a whole,” he emphasized in closing.