ROME (AP) — The Italian government was expected to announce on Tuesday whether it will back Rome’s bid for the 2020 Summer Olympics.
Premier Mario Monti has been under mounting pressure from Rome’s mayor and some Olympic athletes to pursue a bid. But the government has expressed concerns that the costs of staging the Olympics would overwhelm Italy’s moves to exit the financial crisis.
Costs for hosting the Olympics in Rome are estimated at $12.5 billion.
The International Olympic Committee requires bid cities to provide government financial guarantees, and detailed bid plans must be submitted to the IOC by Wednesday.
