Going Like Sixty
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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.  "Getting any form of loan from the private sector at the moment is very difficult." However, the tightening of the financial markets and reluctance to lend, particularly to the housing sector, has thrown doubt over the project.
(building)References: london2012, building Filed In: |
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