The Eurotunnel company avoids voluntary liquidation

"Eurotunnel has been saved!", writes  François-Xavier Pietri after the company's creditors accepted on November 27th a redevelopment plan proposed by management. "Of course a few hurdles still remain, but the obstacle course seems easier to overcome this time. It was the very last minute for the operator of the cross-channel tunnel on the verge of voluntary liquidation and financial choking on its 9 billion euro debt. It was the last minute then for the construction site of the century that has over the years turned into the nightmare of the century, a nightmare for the hundreds of thousands of share-holders who lost pretty much everything in the venture. ... All this  without the French or British States ever lifting a finger, under the pretext that it was a private affair. After the historic signature in 1986 of the famous Treaty of Canterbury that brought François Mitterrand and Margaret Thatcher side by side, one might have hoped for a little political solidarity."

» full article (external link, French)
More from the press review on the subject » Infrastructure / Travel and Transport, » Corporations, » France, » United Kingdom, » Europe
All available articles from » François-Xavier Pietri

» To the complete press review of Tuesday, November 28, 2006