The Associated Press reports Prague will not enter the race for the 2020 Summer Olympic Games because of the global economic crisis.
Prague city council voted 11-0 Tuesday to cancel preparations for the bid, said Marketa Reedova, deputy mayor and council member. Prague’s municipal assembly is expected to approve the decision on Thursday.
The council took into account a report by PricewaterhouseCoopers that recommended the city use the funds needed for the Games to ease the effects of the global crisis.
Reedova said, “it makes no sense to spend money (on the bid) any more”.
Prague lost its bid to host the 2016 Summer Games.
Czech officials had said they hoped the bid would increase the city’s chances of staging the Olympics in 2020.