HOME
        TheInfoList






Arguments about possible effects on Greece's debt crisis

There have been arguments (mostly in popular media) that the cost of the 2004 Athens Summer Games was a contributor to the Greek government-debt crisis that started in 2010, with a lot of focus on the use of the facilities after the Games.[101] This argument, however, contradicts the fact that Greece's Debt to GDP ratio was essentially not affected until the 2008 world financial crisis,[102] while the cost of the Games, spread over years of preparation, was insignificant compared to Greece's public debt and GDP.[103][104] Furthermore, the aforementioned arguments do not even take into account the profits (direct and ind

Preparations to stage the Olympics led to a number of positive developments for the city's infrastructure. These improvements included the establishment of Eleftherios Venizelos International Airport, a modern new international airport serving as Greece's main aviation gateway;[30] expansions to the Athens Metro[31] system; the "Tram", a new metropolitan tram (light rail) system[32] system; the "Proastiakos", a new suburban railway system linking the airport and suburban towns to the city of Athens; the "Attiki Odos", a new toll motorway encircling the city,[33] and the conversion of streets into pedestrianized walkways in the historic center of Athens which link several of the city's main tourist sites, including the Parthenon and the Panathenaic Stadium (the site of the first modern Olympic Games in 1896).[34][35] All of the above infrastructure is still in use to this day, and there have been continued expansions and proposals to expand Athens' metro, tram, suburban rail and motorway network, the airport, as well as further plans to pedestrianize more thoroughfares in the historic center of Athens.

The Greek Government has created a corporation, Olympic Properties SA, which is overseeing the post-Olympics management, development and conversion of these facilities, some of which will be sold off (or have already been sold off) to the private sector,[36][37] while some other facilities are still in use, or have been converted for commercial use or modified for other sports.[38]

As of 2012 many conversion schemes have stalled owing to the Greek government-debt crisis, though many of these facilities are now under the control of domestic sporting clubs and organizations or the private sector.[citation needed]

The table below delineates the current status of the Athens Olympic facilities:

[54][68][100]

Olympic Athletes' Village Housing 2,292 apartments were sold to low-income individuals and today the village is home to over 8,000 residents.[54] Several communal installations however are abandoned and heavily vandalised. Olympic Press Village Housing It has been turned over to the private sector and namely Lamda Developments S.A. (the same company which owns and runs the Mall of Athens and the Golden Hall), and has been converted to luxury flats.

Arguments about possible effects on Greece's debt crisis

There have been arguments (mostly in popular media) that the cost of the 2004 Athens Summer Games was a contributor to the Greek government-debt crisis that started in 2010, with a lot of focus on the use of the facilities after the Games.[101] This argument, however, contradicts the fact that Greece's Debt to GDP ratio was essentially not affected until the 2008 world financial crisis,[102] while the cost of the Games, spread over years of preparation, was insignificant compared to Greece's public debt and GDP.[103][104] Furthermore, the aforementioned arguments do not even take into account the profits (direct and indirect) generated by the Games, which may well have surpassed the above costs. Finally, popular arguments about "rotting" of many of the facilities, appear to ignore the actual utilization of most of these structures.[104]

See also

Notes

  1. ^ The national teams of North Korea and South Korea competed separately in the Olympic events, even though they marched together as a unified Korean team in the opening ceremony.

References

  1. ^ a b "Factsheet - Opening Ceremony of the Games of the Olympiad" (PDF) (Press release). International Olympic Committee. 9 October 2014. Archived from the original (PDF) on 14 August 2016. Retrieved 22 December 2018.
  2. ^ Standard Greek pronunciation is [θeriˈni olibi.aˈci aˈɣones ðˈio çiˈʎaðes ˈtesera]
  3. ^ a b c "Athens 2004". International Olympic Committee. olympic.org. Archived from the original on 17 January 2013. Retrieved 19 January 2008.
  4. ^ "The Olympic Summer Games Factsheet" (PDF). International Olympic Committee. Retrieved 5 August 2012.
  5. ^ Winner Medals Archived 4 July 2011 at the Wayback Machine, Olympic Games Museum. Retrieved 27 July 2011.
  6. ^ Athens' New Olympic Medal Design Win IOC's Nod, People Daily. Accessed 5 August 2011.
  7. ^ a b c "Rogge: Athens 'unforgettable, dream Games'". ESPN. Associated Press. 29 August 2004. Retrieved 28 July 2012.
  8. ^ Weisman, Steven R. (19 September 1990). "Atlanta Selected Over Athens for 1996 Olympics". The New York Times. Retrieved 23 September 2008.
  9. ^ Rowbottom, Mike (6 September 1997). "Athens wins 2004 Olympics". The Independent. London. Retrieved 25 May 2010.
  10. ^ Longman, Jere (6 September 1997). "Athens Wins a Vote for Tradition, and the 2004 Olympics". The New York Times. Retrieved 25 May 2010.Greek government-debt crisis that started in 2010, with a lot of focus on the use of the facilities after the Games.[101] This argument, however, contradicts the fact that Greece's Debt to GDP ratio was essentially not affected until the 2008 world financial crisis,[102] while the cost of the Games, spread over years of preparation, was insignificant compared to Greece's public debt and GDP.[103][104] Furthermore, the aforementioned arguments do not even take into account the profits (direct and indirect) generated by the Games, which may well have surpassed the above costs. Finally, popular arguments about "rotting" of many of the facilities, appear to ignore the actual utilization of most of these structures.[104]

    See also