Greece Braces for Olympics-Sized Bill
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The heady days of the Athens Games are over. Colorful banners have been pulled down and stadiums built in a rush of last-minute construction lay empty. Now Greeks are bracing for the Olympic-sized bill.
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Economic size wields major influence over how well a nation does at the Olympics.
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The total cost of the Athens Olympics may exceed $14.6 billion, according to Greece's 2005 budget submitted to parliament Thursday.
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THE Athens Summer Olympic Games cost host country Greece nearly 9 billion euros ($15.23 billion), Greek Finance Minister George Alogoskoufis said today, citing definitive figures.
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The total cost of the Athens Olympics may exceed &#36;14.6 billion, according to Greece's 2005 budget submitted to parliament Thursday.
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Greece are quick out of the blocks when it comes to making money out of their Olympic medal winners.
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The Athens Olympics will cost a total of  almost 10 billion euros ($12.1 billion), more than double the  original target, pushing Greece's budget gap well above EU  limits, finance ministry sources said on Wednesday.
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Sport finally took center stage at the  Olympics on Thursday after almost a week of headlines dominated  by a drug-testing drama that tarnished Greece's image.
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Athens prepares to bid farewell to the 2004 Olympic Games at Sunday's closing ceremony.
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The Greek government says  this year's Olympic Games in Athens cost 8.8bn euros  -  almost double the original estimate.
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Latest estimates of the costs of hosting the Athens Olympics put them at up to $10bn - a huge amount for a small country like Greece, once the poorest in the EU.
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Greeks hope increased tourism will help them pay the $9 to $12 billion pricetag.
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The European Union last night started legal action against Athens after it was revealed that a systematic under-reporting of Greece&#39;s budget deficit should have ruled the country out of joining the single currency.
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The expense of securing the Olympic Games has become so daunting for host cities and nations that it is now time for Olympic officials to consider international cost-sharing
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First success at footballâs Euro 2004, then the centre of planetary attention with the Olympic games, and now Greece is bidding to win a medal for its renascent fashion industry.
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In the midst of the heaving throng of more than 100,000 who turned out in Athens to welcome home the victorious Greek soccer team last month, someone asked how Athens would deal with the crowds during the Olympics.
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Greece was rocked by the threat of being stripped of an Athens Games medal and the host nation's team manager offered to quit on Friday, as doping overshadowed Michael Phelps' drive to be Olympic swimming's top medal winner.