The IOC, having completed their two day inspection of London's preparations for the 2012 Olympics, have magnanimously stated that the UK is justified in spending £12BN (including £2BN running costs) on the games.
Given that the money is not coming out of the IOC's pockets, and the continuing existence of the games justifies their junkets and salaries, the IOC would say that.
Denis Oswald, the head of the Coordination Commission is quoted in The Guardian:
"In every city where you organise the Games, it's a unique opportunity to improve the infrastructure in one way or another.
If you look at most previous cities like Athens, they have a new airport, they have a new train line, they have a new metro line, they have a new tramway, they have a new motorway... all this was done on the occasion of the Games.
These were investments which were needed by the city in order to be a modern city and I think it's a very similar situation with the east end part of London which needed improvement. The Games are just the best opportunity to do it."
Oswald neglects to mention that the hapless citizens of Greece will be spending years paying off the debts of the 2004 Olympics, and that many of the venues constructed for the Athens games are now rotting.
Olympic Medals won during the Beijing 2008 Olympics
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