After years of preparation, London is in the starting blocks for the Olympic Games which begin in three weeks’ time.
The British capital’s already world famous landmarks will reach a huge worldwide audience.
New sporting venues, transport links and buildings such as The Shard – the EU’s tallest building – are designed to take British pride to dizzy heights.
They have also sent costs through the roof: London looks set to be among the most expensive Olympics ever, reaching a total of some 12 billion euros.
One recent report from the ratings agency Moody’s says the games are unlikely to provide a substantial boost to the UK economy.
“It’s because there will be some off-setting implications so on the one hand people who might have been coming to London anyway may avoid London because of the Games and don’t want to get caught up in it. At the same time there may be a degree of business disruption which might affect local businesses in the area,” said Moody’s spokesman Colin Ellis.
Much of the investment has been made in the east of London.
The landscape in Stratford – once one of the poorest areas in England – has changed massively since it was chosen as the main venue for the games.
As well as the Olympic Park, Westfield is now Europe’s biggest urban shopping centre.
Reporting from London for euronews, Veronika Kormaier said: “Olympic Fever hasn’t yet arrived in Stratford. The area is still under construction. Although the Olympic site is impressive, local people are worried that the games will influence their everyday life too much.”
Inside the Stratford Centre, there is no sign that the games will be unfolding only a couple of hundred metres away.
Some local people – rather than seeing a potential boost for their businesses and the local community – are concerned at what they stand to lose.
“Well I’m not too pleased with it myself, because I think it’s going to disturb us. It will possibly fetch a bit of trade here, but it’s going to cause havoc on the roads around here, that’s for sure,” said 80-year-old fish seller Ronald Harvey.
“When I didn’t get any tickets, because I work in the area I did feel a bit (upset). I know people who are in Australia who got eight pairs of tickets. They’re coming from Australia and we didn’t get any,” said Paul Smith, a butcher.
The build-up to the Olympics has seen an avalanche of figures in terms of potential costs and benefits to the British economy.
Local people will find out soon what the Games will bring them in reality.
- 1Turkey blames US for ‘sea of blood’ in region
- 2Snowden, Assange and Manning statues unveiled in Berlin
- 3Syrian monitoring group says at least 500 killed in Aleppo offensive
- 4‘Human error responsible’ for deadly Bad Aibling train crash – sources
- 5One of world’s biggest container ships stranded on German river
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2International news | euronews, latest international news
- 3Most Istanbul blast victims ‘were German’, says Turkey
- 4Madrid to appeal Catalan road to independence from Spain
- 5Thousands in Bucharest blame corruption for Friday’s nightclub blaze
- 6Partnering to grow Europe
- 7Moldova: protesters storm Parliament
- 8Hope vs harsh reality: challenges to global education goals in the 21st century
- 9Extras : euronews : the latest international news as video on demand
- 10Merroussis clinches the 33rd Athens Authentic Marathon
- 11Norway sends Syrian refugees back to Russia
- 12‘National’ funeral for Celine Dion’s husband ‘over the top’
- 13Jorge Lorenzo clinches his third MotoGP title in Valencia
- 14International breaking news | euronews online world breaking news in video
- 15Special Reports : euronews : the latest international news as video on demand
- 16latest Learning World - All Programmes | euronews : the latest international news as video on demand
- 17Benzema questioned in French sex tape case
- 18Middle East - News | euronews : the latest international news as video on demand
- 19Paris: “I would rather see my brother in prison than in a cemetery”
- 20world Weather | euronews: world ten day weather forecast
Wires > News
- 07:03 CET Ex-Anglo Irish Bank head due back in Boston court
- 05:48 CET North Korea feels global pressure but not completely ostracised
- 03:29 CET Republicans Christie, Fiorina drop White House bids
- 00:54 CET Turkey, Greece seek NATO mission in Aegean – German official
- 00:10 CET Short of options, Sri Lanka turns back to Beijing’s embrace
- 00:07 CET Auschwitz guard, 93, stands trial in Germany
- 00:06 CET With fewer U.S. troops in Afghanistan, pressure grows for more air…
- 00:01 CET North Korea satellite not transmitting, but rocket payload a…