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Volume 10 No. 22


Greece will have to pay the U.S.-based company that supplied it with a security system for the 2004 Athens Olympics €40M ($52.6M) after losing an arbitration process, according to EKATHIMERINI. The Int'l Chamber of Commerce issued a judgment "that rejected Greece’s claim it never officially accepted delivery of the system because of technical deficiencies" (EKATHIMERINI, 7/15). The GREEK REPORTER's Andy Dabilis reported the ICC found that Greece "had given the green light" in Nov. '08 and would have to pay U.S. defense company Science Applications Int'l Corp. for the system, known as C4I (GREEK REPORTER, 7/15).

The Madrid 2020 Olympic bid has already made preparations for its landing in Argentina -- 24 Spanish athletes will represent the candidacy for the announcement of the winner in Buenos Aires on Sept. 7, according to Matilla & Jiménez of AS. The objective will be to "represent many disciplines, known faces and feminine momentum." Spanish Olympic Committee (COE) President Alejandro Blanco "believes an impressive setting will raise Spain's impression before IOC members." Spanish Prince Felipe "will be the leader" and Spain PM Mariano Rajoy has "promised his attendance." NBA L.A. Lakers forward Pau Gasol will also be able to attend, but one inconvenience will be that footballer Iker Casillas will be unavailable because the Spanish national team plays Finland on Sept. 6 (AS, 7/16).

ABSOLUTE SUPPORT: The EFE reported Madrid businesses have written an institutional declaration supporting Madrid's 2020 Olympic bid. The statement expresses "absolute support" from the 500,000-plus businesses in the region for something that represents "an optimal occasion to further boost development of the community." The declaration "has been read at the closing of the General Assembly meeting of the Madrid Business Confederation (CEIM)," which was attended by various prominent Madrid commerce officials. The declaration highlights that "celebrating the Games would promote the image of Madrid, the Community and all of Spain, and be an opportunity to welcome more tourists, increase direct foreign investment, strengthen economic and social development and create employment opportunities" (EFE, 7/16).

The Russian Interior Ministry said that it is preparing a search warrant for the former deputy head of a construction company "suspected in funds embezzlement during works on Winter Olympics venues in Sochi," according to XINHUA. The ministry's press service said, "The ministry's Investigative Department is preparing to issue federal and international search warrant for Akhmed Bilalov." Bilalov "used to be a deputy director of the Krasnaya Polyana company in charge of construction of skiing sport infrastructure in the Black Sea resort of Sochi," where the Winter Olympics will take place in February. Investigators said that Bilalov "inflicted damage to the project" of more than 45M rubles ($1.37M) (XINHUA, 7/16).