Italian fashion heavyweights rally for Rome Olympics

Italy's grand masters of fashion are lobbying for the global mega-event known as the Olympics to take place in Rome in 2024. The Rome2024 committee has nominated a group of 17 prominent ambassadors to promote the possibility, including designer Giorgio Armani, 21 Investimenti’s president Alessandro Benetton, Barilla Group’s president Guido Barilla, Ferrero’s chief executive officer Giovanni Ferrero, Pirelli’s ceo Marco Tronchetti Provera and actress Monica Bellucci amongst others.

The ambassador's are rallying for the Olympics to bring a not-to-be-missed opportunity to Rome and the country, despite its costly price tag, and the evidence that most nations do not profit from the games. Italy is also on the verge of a bank bail-out and could be the next Greece in Europe's economic crisis countries.

Italy is one of Europe's most struggling economies, with relatively high unemployment rates and 400 billion dollars in bad loans on its hands. Hosting the Olympic Games would cost the Italian government approximate 140 million euros per year from 2017.

The Olympic Games are a costly bet for any nation. It was well documented that the 1976 games in Montreal almost bankrupted the city. It took taxpayers 30 years to pay off the debt of the stadium and games. The Sochi winter games were the most expensive in history, costing 51 billion dollars. Sochi is yet to make a profit from hosting them.

One Italian politician suggested holding a referendum if the Roman citizens are interested to be candidates in the competition to host the games in their capital.

Italian newspaper Il Corriere della Sera reported assembly president Marcello De Vito saying: "The Olympic Games are not our priority," though it will be discussed in parliament next week if Rome will be put to a vote. Olympexit anyone?

Photo Credit: Olympic Rings, Wikipedia