Olympics Cost Greece 7 Billion Euro

:eek: ATHENS, Nov 7 - The 2004 Athens Olympic Games has cost Greece more than 7 billion euro, making them the most expensive Olympics of all time, the Greek government said today.
The final cost of bringing the Olympics back home will not be known until the end of the month, but Greek Economics minister Georges Alogoskoufis was preparing the ground today for some painful news.
``The total will be greater than forecast,’’ he predicted in an interview with Ethnos.
The last official estimate given by the Greek finance minister Petros Doukas in August put the cost at over seven billion euros compared to original forecasts of just 4.6 billion euro.
Last month reports in local media suggested the figure would be nearer 8 billion euro.
Alogoskoufis said the pain of paying for the costliest Games ever would be softened by the legacy the sporting festival left in terms of tourism and new infrastructure.
The bill has pushed Greece’s public deficit high above the authorised limit within the European Union’s eurozone.
The smallest country to host the Olympics in 50 years, Greece’s deficit is expected to reach 5.3 per cent of gross domestic product (GDP) this year, in breach of the three-percent eurozone limit.
Greece is thought to have spent close to 1 billion euro on security alone, for the first summer Games since the September 11, 2001 terrorist attacks on the United States.

Do they have taxes in Greece? If so, ouch!!

We’re fine we’re fine Greece can handle it!!! :wink:

ATHENS, Nov 12 AFP - The Athens Summer Olympic Games cost host country Greece nearly 9 billion euro :eek: Greek Finance Minister George Alogoskoufis said today, citing definitive figures.
But he added that the figure did not include infrastructure spending on a new metro and tramway system nor indirect expenses incurred by public sector companies.
It was an investment that was worth it,'' the minister insisted following a ministerial meeting to assess the cost of the games, which were held August 13-29. Most of the costs have been covered in previous budgets, he added, with a very small percentage’’ to appear in the 2005 budget.

As usual, little by little, the truth comes out after the fact.