Gnam
10-03-12, 09:04 PM
What economic disaster? :gomer:
Greece unblocked a subsidy of 28.9 million euros ($37.2 million) for the construction of an international-standard racetrack that can be used for staging Formula One car racing, the Ministry of Development said.
The track, which will be designed to host other events as well, including world championship motorbike racing and go-kart racing, will be built in Xalandritsa near the western port city of Patras at a total cost of 94.6 million euros...
http://www.bloomberg.com/news/2012-10-01/greece-unblocks-subsidy-for-formula-1-track-construction.html
I'm sure the Germans are happy to see that their money is being well spent.
:p
Germany's legendary Nürburgring racetrack and entertainment complex is effectively bankrupt.
The circuit—which hosted Formula One's German Grand Prix last year—is to launch insolvency proceedings amid fears that it could run out of cash while the European Commission considers planned government aid.
A state subsidy had been in place since a disastrous development plan left the 'Ring organization saddled with more than 350 million euros in debt. While the Nordschleife—the circuit's famous “North Loop” which covers more than 13 miles—generates healthy operating profits, the income does not cover the interest payments on the enormous debt...
http://www.autoweek.com/article/20120718/carnews/120719856#ixzz28HtzgVxU
Greece unblocked a subsidy of 28.9 million euros ($37.2 million) for the construction of an international-standard racetrack that can be used for staging Formula One car racing, the Ministry of Development said.
The track, which will be designed to host other events as well, including world championship motorbike racing and go-kart racing, will be built in Xalandritsa near the western port city of Patras at a total cost of 94.6 million euros...
http://www.bloomberg.com/news/2012-10-01/greece-unblocks-subsidy-for-formula-1-track-construction.html
I'm sure the Germans are happy to see that their money is being well spent.
:p
Germany's legendary Nürburgring racetrack and entertainment complex is effectively bankrupt.
The circuit—which hosted Formula One's German Grand Prix last year—is to launch insolvency proceedings amid fears that it could run out of cash while the European Commission considers planned government aid.
A state subsidy had been in place since a disastrous development plan left the 'Ring organization saddled with more than 350 million euros in debt. While the Nordschleife—the circuit's famous “North Loop” which covers more than 13 miles—generates healthy operating profits, the income does not cover the interest payments on the enormous debt...
http://www.autoweek.com/article/20120718/carnews/120719856#ixzz28HtzgVxU