Evangelos Mytilineos, Executive Chairman of METLEN, appeared on CNBC’s Squawk Box Europe, where he spoke with Steve Sedgwick and Ian King about the geopolitical challenges facing Europe, the continent’s position in a rapidly changing international environment, and the need to protect European industry and its strategic resources.
Referring to the latest geopolitical developments surrounding Ukraine and the possibility of talks between the major powers, Mr Mytilineos considered the broader implications for Europe’s role on the international stage.
Commenting on Vladimir Putin’s proposal for a meeting with Presidents Trump and Xi, he said such a discussion could effectively turn into a “new Yalta”. He stressed that if Europe’s and Ukraine’s futures are discussed without meaningful European participation, this raises a fundamental question about whether Europe can still be considered a global player.
On Europe’s economic and industrial position, Mr Mytilineos said the continent had traditionally relied on its considerable “soft power” , based, among other things, on its culture, innovation, industrial capabilities, universities and intellectual property.
He stressed, however, that this model also depended on access to affordable energy, large export markets and the US security umbrella — conditions that can no longer be taken for granted. In this environment, he emphasised the importance of protecting Europe’s industrial base and strengthening its competitiveness.
Mr Mytilineos also cited aluminium scrap as a telling example of the challenges facing European industry. While Europe seeks to accelerate decarbonisation and boost recycling, valuable strategic raw materials continue to be exported beyond the continent.
He also noted that the United States imposes a 50% tariff on primary aluminium while applying no tariff to scrap, with the result that European exports of aluminium scrap to the US have risen by 243%. “Europe cannot pursue industrial competitiveness while allowing the resources its industry needs to be sent elsewhere,” he said.
Mr Mytilineos also highlighted the importance of energy storage. He said METLEN had extensive experience in the sector, having delivered numerous battery energy storage systems in the United Kingdom, and had recently inaugurated Greece’s largest standalone battery energy storage system, which is also among the largest of its kind in Europe, with a power output of 330 MW.
As he noted, energy storage plays an important role in the security of electricity supply.
In conclusion, Mr Mytilineos stressed that Europe does not need to abandon the qualities on which it has built its strength over time, but should reinforce them by placing greater emphasis on energy security and affordability, industrial competitiveness and strategic autonomy. As he noted, Europe’s future will depend on its ability to harness its industry, ideas and innovation and turn these advantages into meaningful influence on the global stage.