Attiko Metro (AM), the public company building the underground railway networks in Athens and Thessaloniki has run out of money. According to the firm’s financial reports, in 2012 Attiko Metro added a further 141 million euros worth of debt to the overall 1.5 billion debts accumulated.
Aside from government funding, EU grants and loans from the European Investment Bank, Attiko Metro has no other sources of revenue. With the limited funds available, the firm is expected to manage subway and tram development. The firm has requested that the relevant ‘Reppas’ law be amended so that the firm can expand its sources of revenue.
