UPDATE:
Images who are projected on the MKMapView using a MKOverlayView use the Mercator projection, while the image that I use as input data uses
Have you already seen "Session 127 - Customizing Maps with Overlays" from the WWDC 2010 videos? One of the examples takes earthquake data, which gives the earthquake risk for 0.5 by 0.5 degree areas and maps them. Your radar data looks similar, based on squares. The sample code has a full application called HazardMaps, which takes this data and creates an overlay using MKMapPoints. If you haven't already seen this video, I think it will give you plenty of useful information. He also talks about converting to the Mercator projection.
Another thing to check is what coordinate system (datum) the data from EUMETSAT is in. Google Maps uses a system called WGS-84, which is a general standard. But there are many other standards which can give more accurate positions in different parts of the world. If you use the latitude and longitude from a different standard in Google Maps, all your points will be off by a certain amount. The offset is not consistent, it changes as you move around the map. It's possible that Google Maps is being smart about the data and converting to WGS-84 on the fly.
You might find out more details by looking at the KML. I looked but couldn't find the final KML, with the rectangles. Perhaps it gives information about what coordinate system it's using in the metadata.