The U.K. needs to borrow a bunch of pounds in order to build the Olympic Village--1.2 billion of them, to be exact.
Since the credit market is getting slimmer, adding pounds is becoming very difficult. Interim financing is in place while the financial markets qualify the soundness of going for the gold. Experts predict that the financing will be obtained to keep the building on track and not too far afield from targeted deadlines.
Implications - The financing for the Olympic Village will be hard to come as the private sector is reluctant to make any loans at the moment and especially large ones. This tightening of the market has created an air of uncertainty around the whole project.
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