By Steve Rhodes
Several folks alerted me to Worldview’s report on Tuesday in which one expert mentioned hosting the Olympics as one contribution to Greece’s financial crisis.
“One interesting problem that has worsened the situation for Greece is the Olympics,” Ohio State political scientist professor Richard Gunther said.
“There was a tremendous investment in infrastructure preparing for the Athens Olympics in anticipation of huge increase in tourism that might offset some of those expenses.
“In actual fact, though, tourists stayed away from Greece during the Olympics because they thought there would be far too much in the way of traffic and inadequacy of hotel reservations etc, so Greece actually suffered a very bad economic year, certainly in terms of its tourism sector, at the same time that they had spent an outrageous amount of money in preparing for the Olympics, so this was one factor that contributed to the severity of the Greek crisis.”
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Posted on May 12, 2010