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Euro Tunnel

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Le Tuyau d'√Čvacuation

Though the dream of digging a tunnel under the English Channel and connecting 'us' with Europe (note not the other way around) had been bandied about for well over a century, it wasn't until 1994 that trains began running under the briny - thus finally realising the Victorian engineering fantasy.

And what a fucking mistake it was. Far from connecting us with la belle France it has merely connected Kent with the rest of the planet - a sizeable quantity of whom would rather be in Kent than, say, Tashkent. Of consequence, the garden of England has been transformed in to a multi-racial shit tip - and all thanks to Eurotunnel.

Constructed for a measly £10 billion, the tunnel actually ran over budget [Quelle surprise!] and cost nearly six times more than expected. The operating consortium's debts are around £6 billion and its profits do not, cannot or ever will match its interest payments. Good eh?

That said, it was still cheaper to bore a hole under the sea (in less than a decade) than it will be to transform London in to an international centre of sporting excellence in four years. For a truly monumental fiscal fuck up, look no further than the Olympic Games.