Greece Owes $52M For Olympic Security

Greece Owes $52M For Olympic Security

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2004 OlympicsAn arbitrator has ruled that Greece must pay an American company 40 million euros ($52.2 million) for supplying security systems for the 2004 Olympic Games in Athens, rejecting the country’s claim it never officially accepted delivery of the system because of technical deficiencies.

The ICC found that Greece had given the green light in November 2008 and would have to pay the US defense company Science Applications International Corporation (SAIC) for the system, known as C4I.

Greece estimated that returning the games to its homeland would cost 4.5 billion euros ($5.87 billion) but the final bill is believed to be as much as 10 billion euros ($13 billion) although there hasn’t been an accurate final tally. Critics say the cost of running the two-week event,  which has left mostly abandoned stadiums and other infrastructure in its week, wasn’t worth what it brought and that it helped precipitate the current crushing financial crisis.

  • MG

    Suffer more citizens of Greece so the politically connected can make fortunes from your misery.

    “SAIC is among the 8 top contributors to federal candidates, parties, and outside groups with $1,209,611 during the 2011-2012 election cycle according to information from the Federal Election Commission. The top candidate recipient was Barack Obama”
    http://en.wikipedia.org/wiki/SAIC_(U.S._company)

    “SAIC pays nearly $12M to settle allegations of inflated pricing.” Yet, “An SAIC spokeswoman said the company “is obviously very pleased with this ruling.”
    http://www.washingtonpost.com/blogs/capital-business/post/saic-pays-nearly-12m-to-settle-allegations-of-inflated-pricing/2013/06/13/0930a81a-d455-11e2-8cbe-1bcbee06f8f8_blog.html

  • Tonto

    Seems a few scandals also got swept under the rug here with the media when the SAIC contract was orchestrated and agreed to by the government.

    Astronomical “bakshish” and palm greasing went on you can be sure. Hey,someone had to pay for those expensive US and UK tuitions for the PM’s kids–and how about all the new homes going up in swanky neighborhoods during those days?

  • Angelos Eleftherios kenos

    did they get the security systems at all? If not then the arbitrator can go and get… But if they did then there is a female so called author now living off her glory from the games whose husband is wealthy. She should pay it as she is responsible

  • Paul Williamson

    Yes they did, and many additional features that were not in the contract but the Greeks later decided they wanted, after the Olympics was completed.. They decided they really would like separate Police/Fire Department/Coast Guard command and control systems, rather than an integrated Olympic Security system . Beware of Greeks bearing gifts…