The Associated Press reports that the Greek government will monitor all budgets for the Athens 2004 Summer Olympic Games amid fears of escalating costs. In the past local organizers were free of financial supervision, reports the agency.
Tilemahos Hitiris, a government spokesman for Olympic preparations said, “it was judged necessary to… impose a system of total monitoring. Our goal is to achieve the best possible control of costs”.
The government said its share of Olympic costs will not exceed a target of $5 billion and has agreed to a $1.6 billion loan from the European Investment Bank for Olympic projects.
The Athens Organizing Committee has a separate budget of nearly $2.2 billion, with more than 80 per cent of revenues coming from TV rights, sponsors, ticket sales and commercial use of the 2004 emblem. The state is to cover at least 14 per cent.
Culture Minister Evangelos Venizelos, head of sports, said the financial outlook for the Games is positive. “We’re in the last 18 months. We are going well. The timetables are under control. The project is huge. It has to do with the total modernization of our society”.
Meanwhile, an agreement between Athens 2004, the French Embassy to Athens, and representatives of the French Minister of Culture and Sport was signed Tuesday.
Under the agreement French, which will be used at the Athens Olympic Games, is one of the official Olympic languages as specified under article 27 of the Olympic Charter.
Also, in the midst of an ethics controversy, a seven-member delegation from the United States Olympic Committee (USOC) is now in Athens on a nine-day inspection visit that ends Friday.
Doug Ingram, head of the delegation, told The Associated Press, “we are very comfortable with what the Greeks have planned for these Games. We have been very pleased (with) our meetings.”
He said the United States will be bringing and funding its own security enforcement for its national team in 2004.
“We are such a large delegation that it just helps everyone if we can assist from our own resources”.
