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Madrid Olympics May Save Spain's Economy

Posted: Jun. 4th, 2013  |  By Michael Pearse

Madrid is lobbying to host the 2020 Olympic Games, with hopes of aiding the ailing economy. The president of the Spanish National Olympic Committee states that holding the Olympics will reinvigorate the country, and with unemployment recorded at just over 27% at the end of the first quarter, hopes run high. Thankfully, Olympic tourism and revenue should create plenty of new jobs to boost the ailing Spanish economy.

The 62-year-old former judoka - who is also president of the Spanish National Olympic Committee - insisted the bid had united people nationwide who see it as a way of easing the dire situation of the Spanish economy.

Unemployment was at a record 27.16 percent overall at the end of the first quarter.

But such is the enthusiasm across the country that Spain's World Cup and European Championship-winning coach Vicente del Bosque has been encouraged to sign up as an unpaid volunteer.

"It is clear that hosting the Olympic Games will serve as a booster for all the economic spheres of our country," said Blanco.

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