According to The Guardian (a London Newspaper), it looks as though the taxpayers will be on the hook for London’s Olympic Village and Media Centre to the tune of £461 million. This equates to approximately $800 million, or to the local media and our asshat mayor that would translate to $1 billion. After all whats another $200 million.
The fact that London, one of the financial capitals of the world is having trouble finding financing for its Olympic related projects does not bode well for Vancouver. After all we have no where near the financial clout as London.
These days everyone thinks that they are an economic expert, especially the hipsters. The fact is no one really knows when the economy is going to recover. I can tell you that it won’t be while the world comes to Vancouver in 2010. London on the other hand has a better chance.
This has forced VANOC to retool its budget. It had to be done. We got lucky that most of our venues are already built and the convention centre is in the hands of a reputable builder. The Village will be built, it has to be. So lets forget about all the misery going on in the world and embrace the Olympics. After all, they are coming whether you like it or not, so you might as well make the best of it.
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