Lord Coe displayed true British pluck and guts during a meeting of European Olympic committees in Istanbul, when he told them that the UK organisers of the London 2012 Games would "honour commitments" to the IOC.
He is quoted in the Telegraph as saying:
"We are now in a very different economic and financial environment from when we bid for the Games.
The world is a very different place than even six months ago. We want to reassure you: we are no less determined to honour the commitments we made to you.
Even in the current climate and with the complexities of bringing the private sector to the table, there has been no lack of progress."
That's all very well, but even ignoring the current recession, the £12BN plus cost (including £2BN running costs) of the Games is a colossal waste of taxpayers' money.
Olympic Medals won during the Beijing 2008 Olympics
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