Trainose sale is not on track

By Vangelis Mandravelis

The issue of state subsidies to Greek railway operator Trainose is a long way from being resolved, according to Vladimir Yakunin, the president of Russian Railways, which has expressed an interest in acquiring the firm.

Yakunin told Russian news agency Interfax on Tuesday that «unfortunately Greece has not yet managed to resolve with the troika of its creditors the issue of the debts that burden Trainose. Its accumulated debt amounts to 800 million euros."

Russian Railways is the only suitor left for the privatization not only of Trainose but also of carriage maintenance company Rosco. The European Union accuses Greece of extending state subsidies to parent railway company OSE.

Unless a solution is found to this matter, the process for selling off the two rail firms will have to be stopped in its tracks.