Occupy Sochi!

Before the London Olympics were over, German Gref, the head of Sberbank, called on the government to take some special protective measures for investors that would help them recoup their investments in Sochi-2014. Gref has something to worry about: several months ago, Sberbank entered the ski cluster development project as a co-investor. The task before the financiers is extremely ambitious - to build 600 thousand square meters in the mountains in just a year. The specifics of the Olympic construction is such that you can’t move its deadlines, and you can’t hand over an unfinished object in front of the whole world. That is, you will have to build urgently and drive money without counting.
Here is the head of Sberbank and carefully selects the words: “I think we will all need to think together how to create favorable conditions for all investors in the Olympics, who will have to return their money back. It is still difficult to predict how the resorts will be loaded after the Olympics, how real estate will be sold there, but it is obvious that we will need a significant period of time to pay off the investment.”
Apparently, it was not by chance that these words were uttered in London: the head of Sberbank could visually study how the costs of the Olympics magically grow as the Games themselves approach. Seven years ago, when London was declared the host of the 2012 Games, the amount of public funding was estimated at £ 2.4 billion. Before the start of the Games, David Cameron's cabinet recognized the costs already four times as large - £ 9.3 billion. However, the House of Commons counted Olympic expenses at £11 billion, and independent experts, taking into account spending on anti-terrorist activities and changing traffic flows in the city, came to a result of £24 billion. At the same time, according to the most optimistic forecasts, the Games will bring the country's economy £16 in the future 5 billion. That is, they will never pay off.
However, London's billions pale in comparison to Sochi's. In fact, the Winter Games, due to their more modest scale, traditionally cost several times cheaper than the summer ones. For example, the record for the cost of the Winter Olympics still belonged to Vancouver 2010: $6 billion.
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Vancouver did not pay back the Games even at a cost of $ 6 billion. And Sochi has no chance of this: everyone understands that the winter arenas at the summer resort are doomed to bring losses

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Russia broke this record on the move, without even wincing. Already the initial estimate of the Games was $12 billion. Last year, taking into account the financing of infrastructure projects and the purchase of land from residents, experts estimated the costs at $30 billion. Now, adding to the estimate, following the example of London, the costs of security and transport, experts insist on $45 billion. Which of the above figures will be closest to the truth will probably become clear closer to the Games themselves. But this is not so important: Vancouver did not pay back the Games even at a cost of $6 billion. And Sochi has no chance of this: it is clear to everyone without deep calculations that the numerous winter arenas at the summer resort are doomed to bring losses.
Well, the highly experienced ex-official and current banker German Gref understands this better than anyone else. His appeal to the authorities, translated from diplomatic to public, means something like this: “Dear leaders of the country! You and us - business structures - are now shaking crazy money for Olympic construction projects that will never pay off. So give us at least some guarantees that we will not burn out on this and the money spent will return to us sooner or later.”
After all, the rulers have something to do: for them, “bending” companies to finance Olympic construction projects is a trifling matter. But after all, companies have business plans, profits, shareholders, ratings, reputation, finally. All this just like that, you live great, the head of Sberbank does not want to lose. Even for the glory of Sochi-2014.
It is quite possible that the authorities will heed Gref's call and compensate the costs of "socially responsible" business. Why not compensate - not at their own expense, but at ours - taxpayers. No pity!