Madrid Loses Bid For Olympics

2:29 PM, Sep 7, 2013   |    comments
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 MADRID  - Tens of thousands of people in Madrid have been dejected after the city lost its bid to host the 2020 Olympics amid fears over Spain's economy and unemployment.

It was the third straight time Madrid failed in attempts to win the Summer Games.

The International Olympic Committee meeting in Buenos Aires eliminated Madrid in the first round of voting Saturday, with Istanbul and Tokyo left for the final round.

Once considered a long shot because of Spain's deep financial crisis, Madrid's bid gained momentum in the run-up to the IOC's vote by arguing the games would stimulate economic growth.

But the crowd watching on large TV screens at Madrid's Puerta de Alcala square was disheartened when the news was announced.

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