Winning the right to stage the 2012 Olympics could strain the municipal budgets of both Madrid and Moscow, according to a new report.
A Standard & Poor’s (S&P) Ratings Services report says London, New York and Paris have stronger finances for an Olympics, according to aroundtherings.com.
‘The Cost of Olympic Gold: the Credit Effect of Hosting the 2012 Olympics’ assesses how the billions required to host the Games would impact the budgets and creditworthiness of each city.
A spokesman for S&P nevertheless said all five cities were key financial centres in their countries, with diverse and well-developed economies.
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