POSTED: November 27th 2012

Improving economy good news for Madrid 2020

Sports Features Communications

November 27 - A recovering economy in Spain is boosting the country’s bid to host the 2020 Olympic Games in Madrid.

The Economist, a financial magazine in Great Britain, Le Monde, a news magazine in France and Le Figaro, a French daily, have each reported Spain’s recovery is improving Madrid’s bid.

The Madrid 2020 Committee issued a press release stating in part: “It is particularly pleasing to see how these much respected media recognize the difficult reforms that the Spanish Government has made and the positive effects they are having.”

The Economist pointed to gains and improvements made by the Spanish banking industry. The magazine also talked about recent tests by international institutions of Spanish banks. Those tests show positive developments and they noted that the President of the Government, Mariano Rajoy, “has achieved more than he was expected”.

Le Monde discussed the decision by Renault to rely on Spain for new manufacturing plants as proof of an improving economy.

The Madrid 2020 Committee said the improvements in the financial sector will show the International Olympic Committee that Spain and Madrid are capable of hosting the international Games in a few more years.

Madrid is bidding against Tokyo and Istanbul to host the 2020 summer Games. The IOC will make a final decision on September 7, 2012 at the upcoming session in Buenos Aires.

Keywords · Madrid 2020 · The Economist · Le Figaro · Le Monde · Olympic Bidding

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