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n one city but on two continents?" senior Istanb

Started by fengzhu, 2013/07/22 09:59PM
Latest post: 2013/07/22 09:59PM, Views: 427, Posts: 1
n one city but on two continents?" senior Istanb
#1   2013/07/22 09:59PM
fengzhu
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Monti said it would be an irresponsible use of taxpayers money to fund the $12.5 billion Olympic project. Rome was the first city to declare its 2020 candidacy a year ago but, without the necessary financial guarantees, the effort came to a sudden halt a day before the deadline for submission of bid files. Among other things, the International Olympic Committee requires bid cities to provide guarantees that their governments will cover any deficit. "We have to insist on these guarantees," IOC executive board member and finance commission chairman Richard Carrion told The Associated Press on Wednesday. "Its prudent from our point of view to insist on the support of governments. "Obviously, for the remaining cities they have one less competitor to worry about. Rome would have been a formidable competitor, but I dont think it will impact the process. We have some very good candidates. We move on." Five cities are left in the running: Madrid, Tokyo, Istanbul, Doha, and Baku, Azerbaijan. Romes exit could increase the chances of all five getting through to the final phase of bidding. The IOC will review the files before the executive board decides in May whether to accept all five cities or pare the field. With six contenders, the IOC would have been likely cut at least one or two. With five, the IOC could keep them all or cut just one. "I dont think all of them will go to the final, maybe only three, maybe four," IOC marketing commission chairman Gerhard Heiberg told the AP. "But five is excellent. All five are capable of hosting the games." The full IOC will select the host city in Buenos Aires in September 2013. It made fiscal and political sense for Monti to say "no" to Rome at a time of austerity and spending cuts. Italy doesnt want to go the way of Greece, which is crippled by debts and looking for a second bailout from Europe. Some of Greeces problems have been blamed on overspending for the 2004 Athens Olympics. "Of course for the IOC and CONI (Italian Olympic committee) and so on, this was not very good, but as seen from the government in Italy, I understand very well," Heiberg said. "Mr. Monti has to take care of the economy in Italy. Fair enough. This is understandable." The IOC officials said Romes exit should not impact the current race or have long-term repercussions on the Olympic movement. "Dont fforget there is also quite a lot revenue coming in from TV and sponsorships," Heiberg said. Cheap Jerseys NFL. "A bid for the Olympics is still attractive if a country can afford the investments." The public sector budget for this years London Olympics is 9.3 billion pounds ($14.6 billion), nearly three times the figure estimated during the bidding phase. Rome could be back to bid for the 2024 Olympics, but the race could be more competitive then. If the U.S. resolves its long-running revenue dispute with the IOC, the field could include an American city, as well as Paris and a candidate from South Africa. Italys decision to pull out of the 2020 bidding raised questions about why Spain had continued to push ahead with Madrids candidacy despite the countrys own severe economic troubles. Spains credit rating has been downgraded and the country has an unemployment rate of about 23 per cent. Spanish officials say the Olympics could act as a catalyst, rather than a drain, for economic recovery. Madrid is bidding for a third consecutive time after defeats for the 2012 and 2016 Games. "The president of the country has said they are moving ahead. We have to take them at their word," Carrion said in a telephone interview. "I think theyre in for the long haul." Economic issues will be scrutinized closely during the bid race. Japans economy has also weakened, Turkey has a growing economy, Qatar is rich from vast oil and natural gas reserves, and the former Soviet republic of Azerbaijan also is flush with natural gas revenues. On paper, the Istanbul bid would seem to have the most going for it at the moment. The city is bidding for a fifth time after failed attempts for the Olympics of 2000, 2004, 2008 and 2012. The IOC often rewards cities for persistence, as shown last year by the decision to award the 2018 Winter Games to Pyeongchang on the South Korean citys third consecutive try. The IOC has also displayed a trend of going to new regions, sending the winter games to Russia for the first time (Sochi in 2014) and giving South America its first Olympics (Rio de Janeiro in 2016). Pyeongchang will be the first Asian city outside Japan to hold the winter games. Istanbul, Doha and Baku -- the longshot -- all represent potential new Olympic sites. "Where else in the world can you have the Olympic Games not just in one city but on two continents?" senior Istanbul bid official Hasan Arat told the AP. The Istanbul delegation delivered its bid files to the IOC in Lausanne on Wednesday, the final day for submissions. The other four submitted their documents on Monday and Tuesday. "This is a new concept, this is a new Turkey," Arat said. "Turkey is growing very fast. We are the fastest growing economy in Europe, and we are the 16th largest economy in the world." ' ' '


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