Tuesday, January 25 2022
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OSE to be relieved of debts worth billions

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Billions of euros in debt is being written off the books of the Hellenic Railways Organization (OSE), following months-long negotiations between the European Commission and the Greek government, according to a recent announcement.

 

The move by the ministries of Finance and Infrastructure and Transport comes in the wake of a European Commission decision in 2017 ruling that the organization had not been bolstered by illegal state subsidies.

According to the most recent figures, from 2019, OSY had accumulated debts in bank bonds and loans of 11.7 billion euros.

 

The bulk of these loans were related to construction work on the rail network and the purchase of related materials.