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#Business :US will bid for 2024 Olympics and Renzi's (PM of Italy) derision for the same bid

US will bid for 2024 Olympics

The United States announced on Tuesday it would bid to host the 2024 Summer Games but their Olympic committee plans to wait until January before naming their candidate city.
Los Angeles, Washington, Boston and San Francisco made their final presentations to the United States Olympic Committee board of directors on Tuesday.
"We are going to take our time and pick the city we think has the best chance of winning the competition from other cities around the world," said USOC chairman Larry Probst.
All four cities have said it would cost between $4 billion and $5 billion to host the Olympics, not including infrastructure improvements.
The United States hasn't hosted a Summer Olympics since the 1996 Atlanta Games. The 2002 Winter Olympics were the last on US soil.
The USA can expect a tough competition for the 2024 Games.
The official decision to bid for the Olympics comes just 24 hours after Italy announced Rome would spearhead what is expected to be a multi-city bid.
Germany has said that Berlin or Hamburg will be put forward for the 2024 or 2028 Summer Games.
Paris is to decide in January whether to stage a bid and the Azerbaijan capital, Baku, and Doha - both beaten by Tokyo in the bid to host the 2020 Games - are potential candidates. South Africa could have a bid by Durban or a joint Johannesburg-Pretoria bid.
The International Olympic Committee will choose a final list of candidate cities in May 2016 and make a final decision in Lima in 2017.
The US did not make a bid to host the 2020 Summer Olympics, which were awarded to Tokyo in 2013.
Los Angeles sought to be the US candidate to host the 2016 Games, but was beaten by Chicago, whose bid was then rejected by the IOC in favour of Rio de Janeiro.
Los Angeles is seeking to join London as the only cities to host the Summer Olympics three times. Los Angeles was the site of the 1932 and 1984 Olympics.

Italy bid for 2024 Olympics greeted with derision.

An Italian bid to host the 2024 Olympics, amid looming bankruptcy and mafia corruption, would be "like painting a Fiat 500 red and calling it a Ferrari"

Italy's ambition to host the 2024 Olympics, in the middle of its worst recession since the Second World War, has been greeted with derision.
Announcing the move on Monday, Matteo Renzi, the prime minister, said he hoped the bid would help kick-start investment and cheer up a country overcome by the gloom of rising unemployment and a shrinking economy.
"Too often Italy seems resigned, to have lowered its ambitions," said the 39-year-old prime minister, who has vowed to embark on a massive programme of reform to haul Italy out of its political and economic malaise.
“Our problems shouldn’t stop us from dreaming. If we waited for things to be easy we’d never try for anything.”
But his announcement was immediately greeted with scorn and criticism, with many saying Italy was in no fit state financially to hold one of the world’s biggest sporting events and that the projects would pour money into the hands of the mafia, which continues to have a grip on Italy's construction industry.
“Proposing Rome as a future Olympic city is like painting an old Fiat 500 red and hoping that people will believe it’s a Ferrari,” said Luca Zaia, the governor of the Veneto region and a heavyweight in the Right-wing Northern League party.
“This is madness, they’ll be the Olympics of Waste,” said Matteo Salvini, the head of the Northern League, who added that arrests are being made in Rome on an almost daily basis as investigators probe the links between politicians and the mafia.
“The investigations into Rome and the mafia are ongoing and now we want to hand them the Olympics on a plate?”
The games would be hosted by cities across the country, with events taking place in Rome, Florence, Sardinia and Naples – home of the Camorra mafia.
Critics pointed to the example of Greece, where the 2004 Olympics left crippling debts which contributed to the country’s economic meltdown.
“We are extremely concerned about the decision,” the opposition Five Star Party said in a statement.
“The Olympic Games in Athens set off the domino effect of the economic crisis and we are seriously worried that the same thing could happen to Italy.”
Italy has been hit by a series of corruption scandals, most recently in Rome, where corrupt politicians are accused of conniving with gangland criminals to embezzle tens of millions of euros in public funds
The nexus of corruption, dubbed by the press “the new sack of Rome”, was allegedly masterminded by a one-eyed Right-wing extremist convicted of domestic terrorism.
Milan’s Expo 2015, a world fair that will be held next year, has also been swept up in graft allegations, as has Moses, an ambitious engineering project on the Adriatic coast that aims to prevent Venice from being flooded.
Large infrastructure projects are invariably infiltrated by Italy’s various mafia organisations, from Sicily’s Cosa Nostra to the ‘Ndrangheta of Calabria.
Many critics said Italy should invest money in more mundane problems to tackle – from underfunded schools and hospitals to potholes in the roads – rather than in staging an event that would provide fleeting glory and long-term debt.
Mr Salvini said that the government should instead spend money on “improving roads, schools and hospitals” as well as community sports clubs.
Rome wanted to bid for the 2020 Olympics but the plan was dropped in 2012 by Mario Monti, the caretaker prime minister who replaced Silvio Berlusconi.
He said the games would be an unacceptable drain on public resources. The bid was eventually won by Tokyo.
Italy has held the summer Olympics once before, in 1960, when the country was enjoying a post-war economic boom and establishing its reputation as the land of La Dolce Vita.
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