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Originally Posted by DreadCthulhu
My condolences to the people of London, and the taxpayers who will get stuck with the bill for this.
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Hosting the Olympics, since LA in 1980 (edited to add:
1984 not 1980), has been a profitable venture, which is why cities spend so much effort vying to host. As long as they are managed responsibly London should expect the Games to be an economic benefit, not a hinderence to taxpayers. That said the recent
Athens Olympics was not as fortunate. It demonstrates that hosting a profitable Olympics is not an easy thing to do but since the previous five were profitable it can be done.