History's Costliest Overrun

The tunnel cost $21 billion, 80% over budget. The original investors lost virtually everything. The operating company went through restructuring and shareholders saw investments nearly wiped out. Despite the financial catastrophe, the tunnel transformed European travel.

London to Paris in just two hours and 15 minutes by train changed how the continent thinks about distance and national borders. Before the tunnel, crossing the Channel meant ferries, seasickness, and weather delays.