THE ASSOCIATED PRESS
ATHENS — Greece’s Olympic Committee says new deep funding cuts in the 2013 state budget will hamstring sports federations — less than a decade after hosting the 2004 Games.
Committee officials say federations will be unable to function next year, as their share of state funding will shrink to about C15 million ($19 million), from C35 million ($44.6 million) in 2012.
That represents a 75 per cent cut from 2009, committee deputy chairman Sakis Vassiliadis told a news conference on Thursday.
"We had been prepared for a gradual adjustment, but now we have to cope in two months," he said. "I don’t think any (of the federations) will be able to handle it, and this will be the final blow."
Debt-crippled Greece has approved new harsh spending cuts, to secure vital international bailouts.