Translator’s Note: On Wednesday LR carried a fairly negative report from Der Spiegel about the forthcoming Olympic fiasco. However, it was bouncy upbeat European in comparison to what I had just been reading in Novaya Gazeta. See below.
Oligarchs Aren’t “Go”
Yevgeni Titov
Novaya Gazeta
25 February 2009
Translated from the Russian by Dave Essel
Is the state going to have to rescue Potanin and Deripaska’s businesses in order for the Sochi Olympics to happen?

Construction costs for the Sochi sports venues have gone down by 15%, declared deputy-premier for the Olympics Dmitri Kozak at a meeting with prime minister Vladimir Putin. According to the deputy minister, an expert review of the project documentation was able to find ways to make the saving. However, given that food, transport, and utility prices are rising, making the Olympics cheaper seems a rather doubtful proposition. Especially if one takes into account that construction of the venues has not started and building workers are not getting paid. One gets the impression that Olympic optimism is directly but inversely proportional to the depth of the economic crisis. Especially at the venues that Russia’s former Forbes-list billionaires and business giants are responsible for. Novaya Gazeta’s correspondent visited Sochi to see for himself how preparations for the Olympics were going. No venues were to be seen and he was left only with questions.
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