Greek firms reel as country faces default

When construction of four €6.5bn toll roads across Greece resumed last year, Greek and foreign businesses rejoiced.

Greek firms reel as country faces default

The motorways, largely funded by the EU and built by firms including Germany’s Hochtief, France’s Vinci, and Greek companies Ellaktor and GEK Terna, had been halted in 2010. Last year, work resumed after the Greek government paid part of a fine to contractors for the four-year delay.

Now, work has slowed once more. With aid from its bailout programme frozen, the government has used its last cash to pay public sector wages and pensions, and service debt. That has left it without €230m it needs to contribute its part of the financing for the road.

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