Wednesday, April 4, 2012

The Effects of Eurozone Constraints On Greece: Greek Federation of Athletism Suspends All Operations

This is not good for sports, for young people, and for the kids in Greece. The Greek Federation and Athletism today suspended all its operations after performing an emergency meeting. The decision was made because of cuts in government funding and represents the last act in the financial crisis facing the country over the past three years.

A text of the decision on Wednesday, released after the emergency meeting of the federation board, explained that the suspension is indefinite. The decision suspending all athletics competitions in the country, including a competition that was scheduled for May 12.

Initially, the suspension does not affect international competitions such as the London Olympics, but members of the federation will meet again in two weeks, when they can harden their position if the government fails to act. "We call the sports leadership to intervene and avoid the deadlock and economic disintegration of athletics," the federation said in a statement.

Stumble Upon Toolbar

No comments:

Financial TV

Blog Archive

// adding Google analytics