Did 2004 Olympics spark Greek financial crisis?
2004 Athens Olympics expenses may have helped fuel Greece's current debt crisis.
http://finance.yahoo.com/news/Did-2004- ... 3.html?x=0
Any city that wants to host the Olympics is crazy and the people in those cities will pay the price by way of higher taxes for one time use venues the will just rot away after their big 2 weeks of use.
Unfortunately for the athletes the games will shortly have to fade away because of the tremendous price tag. It's not worth a city or country going bankrupt for a 2 week show.
The Olympics are too big for any country or city???
Re: The Olympics are too big for any country or city???
Certainly, the cost of the Games wouldn't have helped the Greek situation but in all honesty, the Euro was a disaster looking for a place to happen and the recent Global recession simply tipped the balance.Bigdog wrote:Did 2004 Olympics spark Greek financial crisis?
2004 Athens Olympics expenses may have helped fuel Greece's current debt crisis.
http://finance.yahoo.com/news/Did-2004- ... 3.html?x=0
Any city that wants to host the Olympics is crazy and the people in those cities will pay the price by way of higher taxes for one time use venues the will just rot away after their big 2 weeks of use.
Unfortunately for the athletes the games will shortly have to fade away because of the tremendous price tag. It's not worth a city or country going bankrupt for a 2 week show.
It's why I'm glad the UK isn't in the Euro, although it's theoretically an accepted currency here.
The Olympics is a bone of contention here as it's being touted as the "London" Olympics, basically denying the other three countries in the UK a part to play in it.
However, as usual, the other three countries have to pay a bundle os cash for the priviledge of letting England shout "LOOK AT US" at the top of their voices.
Again, as usual, cost estimates are a joke and I reckon it should be mandatory that builders, etc. that produce ridiculously low estimates should be held to tast for their, let's face it, lies.
Sandy
A bid should be a legal contract and if you go over budget you lose money.
The problem is the low bid contractor has them by the balls.
You want the building done in time...pay us more money to do it. It's actually a black mail scheme...They know it going in and they are taking a chance by doing it. Obviously it must work because it keeps on happening.
Spending millions or billions for a 2 week event doesn't make good economic sense anymore. They have a proven track record of going in the hole and hurting the economic condition of every city for the last 30 or more years and it's only getting worse.
It's going to have to stop. It may not be what people and athletes want to hear but at some point, reason has to take over. You can't jeapordise the entire economic health of a city for years to come over it. The citizens shouldn't be expected to pay higher taxes for years to bail out stupidity.
The problem is the low bid contractor has them by the balls.
You want the building done in time...pay us more money to do it. It's actually a black mail scheme...They know it going in and they are taking a chance by doing it. Obviously it must work because it keeps on happening.
Spending millions or billions for a 2 week event doesn't make good economic sense anymore. They have a proven track record of going in the hole and hurting the economic condition of every city for the last 30 or more years and it's only getting worse.
It's going to have to stop. It may not be what people and athletes want to hear but at some point, reason has to take over. You can't jeapordise the entire economic health of a city for years to come over it. The citizens shouldn't be expected to pay higher taxes for years to bail out stupidity.
