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Greece loses Mediterranean Games over budget cuts

Greece loses Mediterranean Games over budget cuts

Greek officials say Greece has been stripped of the 2013 Mediterranean Games hosting rights after seeking to slash the budget due to its acute financial troubles.
A Culture Ministry statement says Friday's decision by the International Committee of Mediterranean Games in Paris was prompted by Greece's bid to cut the "extravagant" cost of the event by two thirds.
The ministry said the 2013 Games, due to be held in the central towns of Volos and Larissa, had an initial budget of (EURO)358 million ($490 million). Earlier this month, Athens proposed slashing the cost to (EURO)126 million ($175 million), citing economic hardship.
A new host has not been announced.
Debt-ridden Greece avoided bankruptcy last year through international rescue loans.


Updated : 2021-04-11 13:07 GMT+08:00