The Olympics

The Olympics


News, information and stories about the Olympic Games.

Friday, 19 November 2004

Athens Busts Budget Again

It seems that the Athens Olympic budget has been busted again.

Previous reports that the cost of the Games would hit $12BN, seem to be a little on the "light side".

The total cost of the Athens Olympics may in fact exceed $14.6BN, according to Greece's 2005 budget submitted to parliament Thursday.

The extra costs have come from infrastructure projects, eg the metro extension to the airport, and other indirect public sector expenditures not included in the original Olympic budget.

Speaking as an accountant, I trust that the financial "experts" who forecast that the cost would not exceed $6BN get their backsides well and truly kicked.

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