Last days of Olympic?
During the last days the greek media are openly reporting about the possibility, that Olympic might be closed down.
The reason is, that they are expecting an announcement from the European commission on the 14th of this month, demanding Olympic to return a huge sum to the greek state, that is considered to have been illegal subsidies.
Since Olympic does not have that kind of cash handy, 3 scenarios are being discussed:
1) Olympic ceases ops. Employees are transfered to other jobs in the public sector, or given voluntary departure schemes.
All assets are sold.
2) Olympic shuts down, and a new company will be taking over, with less employees working at different terms and conditions.
3) Greece ignores the ruling and awaits a court decision, which would buy them about 2 years, until a final decision is announced by the european court.
Obviously difficult times ahead for the employees in Olympic. Hope they will be able to get on with their careers.