NY Times 7/20/10: Greece's Debt-Ridden Rail System...

And we in the USA think Amtrak has problems...

http://www.nytimes.com/2010/07/21/busin ... 1rail.html

Losses at Hellenic Railways, however, continue to mount — at the rate of 3 million euros, or about $3.8 million, a day. Its total debt has increased to $13 billion, or about 5 percent of Greece’s gross domestic product.

Also, later in the piece...

Of course, shaky finances are not uncommon among rail operators in Europe. Many are poor cash generators. Their prices are kept low as a matter of social policy, forcing the companies to become heavy state-backed borrowers to finance upkeep and expansion.

seems pretty clear that it needs to shed some staff . Often Govt owned enterrises are forced to hire more staff than they need to make unemploymnet fiqures look better .