The momentum for a European rail renaissance is growing. A recent survey by the European Investment Bank revealed that 74 per cent of respondents intended to fly less frequently for environmental reasons, once restrictions were lifted, and 71 per cent planned to choose trains over planes for short-haul trips.
The rail system is not yet in shape, though. On average, rail accounts for only 8 per cent of passenger transport. The Achilles heel is cross-border rail: the European system is only a patchwork of national systems. Ask anyone who has ever tried to cross several European countries by train.[...]
EU funding makes up an important share of overall transport infrastructure funding and can be a lever for other sources. Yet too much goes into roads and airports, too little into rail. Much even of that is spent on mega-projects with exploding costs, long delays and sometimes only limited European value. The European Court of Auditors cautioned in 2018 that projects were often chosen on a political basis—not sound cost-benefit analysis—and lacked co-ordination across borders.
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