Madrid will not follow Rome by withdrawing its bid for the 2020 Olympic Games despite Spain’s deepening economic crisis, a senior bid official has claimed.
Spain slipped into recession last month and the country’s government is in the midst of an austerity drive as attempts are made to streamline the euro zone’s fourth largest economy. The battle to host the 2020 Games was reduced to five combatants in February as Rome was forced to drop its bid having failed to secure the support of the Italian government. Prime Minister Mario Monti announced that it would be irresponsible for the government to provide the financial guarantees necessary for the International Olympic Committee (IOC) to consider the bid.
However, Madrid 2020’s CEO of international relations, Theresa Zabell, told Reuters: “Madrid has absolutely no intention of backing out of bidding for the Games. This is not going to be Rome II. We will be in Buenos Aires next year with a strong bid.” Madrid’s tilt at the 2020 Games marks its third consecutive bid for the Olympics and Zabell believes victory can provide a timely boost for the Spanish economy.
