The Latest: Italy: Our economic problems won’t be hindrance

LAUSANNE, Switzerland (AP) — The Latest on the 2026 Olympics vote (all times local):

12:55 p.m.

Italy’s bid team is confident the nation’s economic problems will not prevent it from staging a successful 2026 Winter Olympics.

Italy has endured years of austerity and its debt load is the second highest in Europe, after Greece. However, the Milan-Cortina bid is based in the two richest regions of the peninsula.

Italy Undersecretary of State Giancarlo Giorgetti says: “They are two of the richest provinces in Europe. They certainly have the capacity, they have the readiness, they have the finances in order to be able to support the event.”

In 2012, then-premier Mario Monti scrapped Rome’s candidacy for the 2020 Summer Olympics because of financial concerns. A second bid, for the 2024 Olympics, was scrapped three years ago because of staunch opposition from the city mayor.

But Giorgetti believes that hosting the games would only benefit Italy’s economy.

He says: “It will be very good for the economy of our region but also for Italy and for tourism in the Alp region. The Italian government believes that this sporting event will be a driving force for the economy as well.”