Rome's 2020 Olympic bid scrapped
ROME -- Rome dropped its bid for the 2020 Olympics on Tuesday after Premier Mario Monti said the Italian government would not provide financial backing for an estimated $12.5-billion project at a time of economic crisis.
Monti announced after a Cabinet meeting that it would be an irresponsible use of taxpayer money to fund the Olympics with a guarantee that the government would cover any deficit.
"We arrived at this unanimous conclusion that the government didn't feel it was responsible ...
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