Wednesday, Mar 10, 2010
Replace Vancover 2010 with London 2012
Canada News: Vancouver credit rating in jeopardy
Looking at the Olympics, you'd think it would bring in revenue, but looking at the past, it has cost more than most would imagine. Greece for example got into huge debt hosting the Olympics in 2004 and now look at the mess they are in. Vancouver could be an $875-million-plus debt for the Olympic Athletes Village. In Montreal’s case it was a $1.5-billion debt and a white elephant Olympic Stadium dubbed the Big Owe, which was built in 1976 for the Summer Olympics and was only just recently paid off. Well, London 2012 with the current warnings about UK credit rating and sterling falling is the last thing you need when trying to host a multi-billion £ project !!
Posted by debtfree @ 11:47 AM (746 views) Add Comment
1 Comment
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1. Happy_renting said...
The article is dated Jan 2009.