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Eurosceptic Bloggers

Wednesday, September 14, 2005

Faster, Higher, Stronger

The Olympic motto is supposed to motivate outstanding performances. I don’t think this is what they had in mind though:
Olympic Airways came under state ownership in 1975. The airline has cost taxpayers more than 2 billion euros in accumulated losses over the past decade.
Now these losses are set to cause a massive new headache.
European Union regulators will tomorrow order Olympic Airlines SA to repay Greek government subsidies, the EU's top transport official said. The ruling may kill Greece's latest attempt to sell the unprofitable carrier.
There are two possible ends for any state owned company, Bankruptcy and Privatisation. The Greeks chose the former, the Eurocrats are guilty only of Euthanasia.

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