Marinakis Spoke at the 5th Thessaloniki Metropolitan Summit organized by the Economist
By: Sean Miller
Capital News Group
Greek shipping magnate and media owner Evangelos Marinakis has called for an end to the war in Ukraine, warning of the human cost and the impact of geopolitical instability on global trade.
Speaking at the 5th Thessaloniki Metropolitan Summit organized by the Economist, Marinakis appealed for a compromise in Ukraine “so that children stop being killed,” while also drawing attention to the economic pressures facing ordinary Greek households.
In a discussion with former UK Prime Minister Boris Johnson and Economist journalist Alasdair Ross, Marinakis challenged the idea that Greece’s economy is enjoying stability. He said that although indicators show growth, “we compare them with the bottom – and of course, whatever we compare with the bottom, there’s only one way to go: up.”
He argued that rising prices and stagnating wages are leaving families struggling by the middle of each month. “The average Greek wage earner suffers from the 20th of the month because the income is not enough to cover essential needs,” he said, citing Eurostat figures that place Greece and Bulgaria at the bottom of the EU’s real income table.
Concerns over Corruption
Marinakis also raised concerns over corruption scandals, including the OPEKEPE farming subsidy case, suggesting that the government had failed to deal with the issue transparently. He said this was reflected in low poll ratings for the ruling party, adding: “I am not so optimistic about its third term unless we see radical changes.”
On the international stage, Marinakis warned of “uncharted waters” for global trade, pointing to the conflicts in Ukraine and Gaza, the threat of escalation with Iran, and disruption in the Red Sea. He also noted the growing unpredictability of US policy under Donald Trump, particularly on tariffs, sanctions, and energy flows.
“Shipping is obviously heavily affected,” he said. “Global conflicts affect trade routes, sanctions impose restrictions, and supply chains can be disrupted both by instability and the possibility of a trade war.”
His Capital Group, which operates 154 vessels with a combined capacity of 12.5m tonnes, is one of the world’s largest energy transporters and has become strategically important in moving oil and gas to Western markets.
Johnson, who shared the stage with Marinakis, struck a different note on Ukraine. He insisted the West must increase pressure on Moscow. “We’ve got to stop this war. Putin won’t stop unless he has more pressure put on him,” he said.
The Thessaloniki summit continues with interventions from Greek ministers, former Israeli prime minister Ehud Olmert, and opposition leader Alexis Tsipras, who is expected to outline his vision for Greece in 2030 in what many see as a step towards a political comeback.
