Prague to withdraw 2020 Olympic candidacy

The Czech capital Prague will not seek to host the Olympic Games in 2020, the City Council decided on Tuesday. The decision was made as part of a plan to cut the City Council’s spending in light of the financial downturn. The proposal still has to be voted on by the City Assembly on Thursday, but with the ruling Civic Democrats and opposition Social Democrats both behind the plan, it is thought that it will pass with a comfortable majority. Councilors from the opposition Social Democrats condemned the amount the city had already spent on its Olympic bid, but maintained that they were behind the plan to cancel Prague’s Olympic candidacy. Prague already applied to host the 2016 Olympics, but failed to make the final shortlist. So far, the Czech capital has spent some 70 million crowns (3.6 million USD) on its 2020 Olympic bid.