Greece Looks to Sell Off Rail Infrastructure

Anything to get out of debt hole

The Greek government has been trying in recent years to sell everything short of its historic Parthenon in an attempt to climb itself out a massive debt hole.

Now, facing mounting pressure from international lenders to speed up its national yard sale, the government has announced it would begin the tender to sell the Hellenic Railways Organization, known by its Greek acronym OSE, by the end of the second quarter.

Development Minister Costis Hatzidakis and Yiannis Emiris, managing director of Greece's privatization fund, Hellenic Republic Asset Development Fund (HRADF), said the government would like to see an investor by the start of 2014 if not sooner, according to the Greek news site ekathimerini.com.

(Hat tip to Reason commenter Brett L.)