Greece plans sale of rail assets in effort to cut its deficit

Greek railways loose 3m Euros each day

Greek railways loose 3m Euros each day

The cash-strapped Greek government is investigating the possible privatisation of a number of public assets in a move that aims to reduce the country’s crippling debt burden.

The Hellenic Railways Organisation is amongst the assets, including two water companies, the Post Office and several casinos, that are slated for either full or partial sales.

However, finance minister George Papaconstantinou revealed that the rail operator is currently losing more than 1bn Euros each year and that...