Tony Blair led the celebrations in Britain yesterday, after London beat Paris and three other cities to win the right to host the 2012 Olympics.
Over 10,000 Londoners partied, cheering and waving the Union Jack in Trafalgar Square.
As with all successful bids, the bid team promised that the Games would be the best ever; they promised that they would transform the rundown eastern part of London into a modern sporting ground.
Blair, who is in Gleneagles for the G8 summit, said:
"It's not often in this job that you punch the air and do a little jig and embrace the person next to you...It's a fantastic thing and I'm thrilled,".
When he arrived in Scotland for the G8 summit, French President Jacques Chirac said:
"Like all French people I am, of course, disappointed. Nevertheless, I wish to congratulate London and the London authorities with all my heart...And I'm going to have an opportunity shortly to pass on my warm and personal congratulations to Her Majesty the Queen and Prime Minister Tony Blair,".
He then went on to the banquet hosted by the Queen where he, following on from his rude comments about British trustworthiness and cuisine, dined on humble pie and sour grapes.
The celebration in Trafalgar Square was rather apt, given the fact that the centre piece is a statue of Admiral Lord Nelson who defeated the French at the Battle of Trafalgar 200 years ago.
Now that the party is over, it is up to the bid team and the politicians to make good their promises.
I shall be watching with interest.