As Venues Sit Unused, Athens Feels Olympic Remorse

Four years after it hosted the Summer Olympics, Athens is questioning whether the $15 billion investment in venues that now largely sit unused was really worth it.

1 minute read

July 22, 2008, 7:00 AM PDT

By Nate Berg

"As Beijing gears up for the most expensive Olympics in history – in the neighborhood of $40 billion – Athens is looking back at the legacy of its Games. The smallest country ever to host the modern event, Greece was proud to have pulled it off despite widespread skepticism. But while the event gave a morale boost to the Olympics' birthplace, many say Athens has failed to translate that into lasting momentum for modernization."

"Many of the venues are still vacant four years later, promised parks never materialized, and new transportation infrastructure has caused problems like flooding and increased traffic, says Mr. Efthimiou. Citizens question the event's $15 billion price tag – most of it paid for by the state."

FULL STORY: As Olympic glow fades, Athens questions $15 billion cost

Monday, July 21, 2008 in The Christian Science Monitor

Community / Economic Development Europe Investment Olympics Athens Greece View More

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