Spain PM: Madrid offers no risk for 2020 Olympics

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By The Associated Press, Associated Press

BUENOS AIRES, Argentina (AP) — Spain's Prime Minister Mariano Rajoy says the country's deep economic crisis has put Madrid in a great position to host a "risk-free" 2020 Olympic games.

Rajoy made his budget cuts a selling point in his final pitch to the International Olympic Committee before the vote to select Madrid, Istanbul or Japan.

He says Spain is "on the road to recovery" with no inflation and growth already resuming after cutting public spending by more than any other leading economy. He also says that Spain's "organizational and financial capacities are unquestionable."

"Madrid offers a safe, solid and reliable bid," Rajoy said. "In fact, Madrid 2020 has perhaps the most reasonable and responsible financial foundation in recent Olympic history."

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