Italy Drops Its Rome 2020 Host City Bid

The economic troubles in Europe that have engulfed Greece won't improve for some time. At the same time Italy, Spain and Portugal have faced their own economic challeges, although not as severe as Greece's. Today Italy's Premier announced that the country would not provide financial support for Rome's 2020 host city bid due to more pressing economic needs. The Italian Premier believes that the $12.5 billion estimated cost of being host city places taxpayer money at risk at a pivotal time given Italy's continued economic weakness. While Rome, which hosted the Summer Olympics in 1960, would have been an interesting candidate city, the country's and even Europe's larger economic concerns are understandably of greater importance right now.