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Summer Games
Posted by Stephen Green  ·  16 June 2004

We've talked before about the upcoming Olympics, and the Greek security problem. But what about money trouble? Read:

It could take Greece over a decade to pay back a €36bn (£24bn) deficit created in part by the ballooning costs of hosting the Olympic games in August, a top government official said yesterday. Mounting disillusionment over the economic repercussions of hosting the the games deepened after the Greek government said borrowing requirements had overshot budget targets by at least €6bn this year.

Although officials avoided saying how much of the over runs were Olympics-related, the August 13-29 games were originally forecast to cost around €4bn but the outlay is likely to be closer to €6bn, if not more.

Should there be a terror attack, Greek finances may be ruined for decades.

Comments

True, true. But the IOC should hold the bag, not Greece. No Athenian in his or her right mind stays in Athens in August if they don't have to, because it's too friggin hot. Athenians typically repair to the islands, or to cooler mountain regions inland. August in Athens is like August in Washington, DC. Ain't nobody home, dude!

Posted by: -Ed. at June 15, 2004 10:40 PM

The EU will pay for it, isn't Greece a net receiver?

I really, REALLY wanted to go back, love it there and wanted to go w/the hubby who's never been.

But now, guess I never will. Don't see travelling outside our hemisphere for awhile. Belize in the future, back to Hawaii, but no Europe for a long time.

Oh, well. Them's the breaks.

Posted by: Sandy P at June 15, 2004 10:41 PM

Athens in August like August in Atlanta?

When *the world* complained it was too hot????

Posted by: Sandy P at June 15, 2004 10:47 PM

Sluggish ticket sales? Gee, how can that be?

Drug scandals, raging anti-Americanism, an IOC hierarchy that resembles the UN. Add to that NBC's coverage that will put you to sleep with syrupy participant bios and scratch-your-head scheduling and I think I will tune out this year.

Posted by: Anne at June 16, 2004 06:07 AM

Ask Nathan Detroit how much trouble a floating crap game can be.

Way back when they resurrected this nonsense,they should have set up permanent sites,Summer in Greece and Winter in Switzerland.

Posted by: noone at June 16, 2004 07:26 AM

Greek finances may be ruined even if there isn't a terror attack. Greek finances were probably ruined the day they they joined the EU...

This Olympics is putting out a really bad vibe and it's too bad. It should be a time to forget differences and unite in principals that we should all respect...like fairness and honor.

Instead we're going to be seeing agonizing TV coverage about security, how athletes are scared and fans have to go through endless security, how Greece is going to declare bankruptcy next week, and probably wondering half the time if the event is suddenly going to cut away to a bombing or kidnapping.

Fun.

Posted by: Mike M at June 16, 2004 07:46 AM

Ah, how sweet is the taste of sweet, sweet schadenfreude.

Couldn't happen to a better bunch of American-bashers.

Posted by: Percy Dovetonsils at June 16, 2004 09:15 AM

And of course the US should kick in a lot of money for security because we're the guys who got all the terrorists pissed of at us and besides we, like, have all this money.

Posted by: Robert at June 16, 2004 12:46 PM

To hell with that noise. The Greeks wanted it, the Greeks can have it, and the Greeks can pay the tab.

Posted by: rosignol at June 16, 2004 05:03 PM



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