Government re-nationalizes Estonian Railway

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Government re-nationalizes Estonian Railway

Oct 25, 2006
By Joel Alas

BAD SIGN: Although completely unrelated, the recent train crash in Estonia serves as appropriate, if not overexaggerated, symbolism for the failed re-nationalization of Estonian Railway.

TALLINN - when an Estonian passenger train hit a truck and ploughed off its tracks on Oct. 23, it was symbolic of the failed process of privatizing the nation’s railways. Ironically, the incident happened the same week the government announced that it would spend 2.4 billion kroons to buy back Estonian Railway (Eesti Raudtee), the transport company it sold a 66 percent stake in only five years ago. The comparison between the crash and the de-privatization is not entirely fair – the derailed tr ...

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