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German travel chaos blamed on lack of investment in railways
(www.theguardian.com)
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Yes.
As an example, let me introduce you to the concept of: roadways.
And even then, I don't know if a public service like public transportation should even be entirely private.
The EU says it must become that. That's why in most countries at least the infrastructure building and maintenance got separated from the company running the trains, as a first step towards privatisation. Look at Britain for how more privatisation will not offer better service for better prices.