Mytilinaeos (Metlen): Alarm for European Industry Amid Euro Strength

Evangelos Mytilinaeos, Founder and CEO of Metlen, has sounded the alarm on another factor undermining Europe’s already strained industrial competitiveness: the sharp appreciation of the euro. In a LinkedIn post, he stresses that the strong euro does not reflect a robust, dynamic economy—but rather stems from political instability and escalating geopolitical uncertainties, with direct consequences for industry and exports. At a time when European competitiveness is already challenged by high energy costs and global competition, the euro’s surge adds further pressure on firms operating in international markets. This is not merely a currency fluctuation, Mytilinaeos warns—it raises broader concerns about the framework within which European industry must operate. He notes that European leaders and industrial stakeholders have expressed growing concern: a strong euro signals neither health nor strength, but instead burdens exporters and deepens existing structural disadvantages—especially against dollar-dominated global markets. For energy-intensive sectors like manufacturing, this intensifies margin pressures amid fierce global rivalry. What’s needed, he argues, is urgent policy acceleration toward industrial resilience, strategic autonomy, and fair global competition—including reducing dependencies, strengthening the internal market, and developing new tools. Europe has the talent and capacity; what’s missing is a supportive framework enabling its industries to compete—and win—worldwide.