Olympic chit-chat

[RickW]

Originally Posted by Realitycheck

Ignorance, ennui, lack of interest to name a few.

They are desperate in all their endeavors.

You are I trust, referring to the proponents of the olympics....trough feeders, everyone.

[Trobin]

No, I suspect they are talking about that website Opie posted and you cheered. Fact is there is nothing new on it. Not that there's much new on this thread either.

I suspect there may be a few more lumps in that dead horse to flatten,, but not many. Not many that will be expleed here.

[Trip]

Originally Posted by Trobin

No, I suspect they are talking about that website Opie posted and you cheered. Fact is there is nothing new on it. Not that there's much new on this thread either.

I suspect there may be a few more lumps in that dead horse to flatten,, but not many. Not many that will be expleed here.

Well, the lumps on the dead camel are all gone...

[Periac]

http://www.canada.com/vancouver/vanc...9-66d149b1c365

Olympic claims versus the record
'What could possibly go wrong?'

Vaughn Palmer
Vancouver Sun

October 16, 2004

VICTORIA - The boss of B.C.'s 2010 Winter Olympics figures the world owes Greece an apology over its performance in this year's Summer Games.

"It was an extraordinary achievement for a very small country," John Furlong told the Vancouver board of trade Thursday.

"It's too bad they got beat around so much along the way.

"It may well be the best Olympic achievement of all time," Furlong claimed. "They deserve our absolute respect."

Well, I'd leave it to the Games boosters to judge that all-time best contest.

But from my reading of the after-the-fact news from the cradle of the Olympics, it would appear the Greeks turned in a memorable performance in at least one regard.

From Reuters news service, Aug. 30: "Greece Takes Gold for Debt."

From the Economist magazine, Sept. 4: "Well, for a fortnight it was a splendid party. Now for the Olympic bills -- and that hangover will last for years."

From a leading bond-rating agency, Sept. 13: "Standard and Poor's today revised its outlook on Greece to negative from stable, reflecting a deepening deterioration of public finances and a lack of progress in lowering the public debt ratio . . . . The size and frequency of the [deficit] revisions points to an accelerating loss of fiscal discipline."

From the Globe and Mail, Sept. 14: "Greek Prime Minister Costas Karamanlis conceded yesterday that the country's deficit has soared faster and higher than that of any European country, reaching four times its projected level and twice the legal limit allowed for European Union member countries . . . . He placed the blame squarely on the Olympics."

From the Southeast European Times, Sept. 20: "The cost of the Olympics, combined with previously existing budgetary and economic problems has left Greece with a considerable burden. The country is entering a period of self-constraint, as financial figures balloon out of proportion . . . . One much-discussed way of doing this is through the privatization of large public organizations. Meanwhile, cost control measures have been implemented in mass transportation and all other public sectors."

Furlong may argue that performance warrants an apology from the naysayers.

I'm thinking a sympathy card would be more in order.

The Olympic logo, the famous five rings, should be replaced with that hoary old favourite of the political cartoonists, the stripped-to-his-skin taxpayer wearing a barrel.

Or let's have a straight-from-the-headlines demonstration sport at the next Games -- a competition between rival host countries to see who'll be first to empty out the national treasury.

I know, I know, what the Olympic boosters will say:

The Summer Games are bigger and more expensive than the Winter Games. Canada did a great job the last time it hosted the Winter Games in Calgary.

Greece was in financial difficulty already. It is the smallest country in modern times to host the Summer Games. Much of the spending went to infrastructure.

As regards the latter....

Greece's economic minister recently estimated the bills could exceed $13 billion for the Games, plus security, plus infrastructure -- more than double the initial estimate.

B.C.'s all-in cost for the Games and Games-related projects is, by my reckoning, already approaching $6 billion, 5 1/2 years before the scheduled opening.

If Greece, population 11 million, got in way over its head, then British Columbia, population four million, ought to be on guard against overextending itself, too.

Not to worry, say the B.C. organizers. Sure, there's inflation.

Sure, the cost of raw materials has climbed precipitously.

Sure, government projects everywhere are experiencing cost overruns.

Furlong says he has "absolute confidence" in his ability to stick within budgets.

The whole operation is "highly disciplined," he assured the board of trade.

And as we all know, government programs in this country are invariably well-managed (gun registry) and always come in on time and on budget (fast ferries.)

"What could possibly go wrong?" as they say in Ottawa and Victoria.

Okay, so it can't happen here. Forget I ever mentioned it. I don't know what I could have been thinking.

From the Montreal Gazette, Oct. 4: "Between its fudged general accounting and the Olympic debt, Greece is facing a total cumulative debt as high as 112 per cent of gross domestic product, or $78,100 for each Greek household.

"Montrealers can sympathize. Only in 2006 will the debt from our 1976 Olympics be paid off in full.

"By the time the last payment is made, more than $2 billion will have gone to the city's Olympic (double entendre intended) debt."

vpalmer@direct.ca

[Realitycheck]

Well, you ain't seen nuttin' yet. This merely strengthens my position that the Olympics will leave us with a debt our great grandchildren will still be paying for.

Watch for the spin from the boosters now.

[RickW]

Originally Posted by Periac

http://www.canada.com/vancouver/vanc...9-66d149b1c365Olympic claims versus the record
'What could possibly go wrong?'

Well, with a million jobs being offered by the Libs, and with the utter and absolute defeat of terrorism by 2010, I would say that nuttin' at all will go wrong...............

[OPINIONATED]

Took a few years - but they are now.

You must have seen Furlong give the Report a week or so ago.

Originally Posted by Trobin

Are the cost over runs written in stone? If so, it would be nice to see a link.

[OPINIONATED]

BTW - all sites that had Olympic logos or Rings or name mentioned - have been MUZZLED OFF the internet.

Originally Posted by Trip

All better than a site whose owners care so little, that they can't be bothered to keep it updated.

Try again, opie.