Austrian Railways Head: IMF Privatization Targets for Greece ‘Unrealistic’

OSE trainThe International Monetary Fund‘s targets and expectations from privatizations in Greece are unrealistically high, Austrian Federal Railways (OBB) head Christian Kern said in an interview to local monthly magazine Trend, published on Monday.

Taking the Greek railway‘s privatization plan as an example, Kern said he was surprised at the target sum expected to be raised from its privatization and suggested that the IMF’s stance is “out of touch with reality” and not in the interests of either Greece or its creditors.

As had been the case in other countries, he added, the IMF and World Bank experts put down “imaginary numbers” in their documents, striving to privatize a sector that, in his opinion, is better off to remain public.

“Reforms are necessary but the anticipated revenue from privatizations are unrealistic,” Kern stressed.

(source: ana-mpa)


  1. Really the Austrian Federal Railway is at the forefront of world finance and economics. Is this a joke being played upon the readers or just media participants have a good mid-summer laugh?

  2. How to enforce reforms? I doubt that selling off the railway to China or Austria is the answer. You may want to sell licenses for foreign train companies to operate in Greece.
    In Frankfurt we have private local railways competing with the Deutsche Bahn and on the lang range transport we have bus companies talking a huge bite off the low budget sector. So the monopoly has to go – not the “public good” public transport.


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