International Olympic Committee president Jacques Rogge in conversation with CTV Olympic anchor Brian Williams.
Brian Williams: Doctor, we're in the one of the worst economic crises in generations. The Olympic movement is not immune. You've lost some sponsors worldwide. How concerned are you that this financial crisis will hamper the ability of not only Vancouver, but of London in 2012 and Sochi in 2014, to stage a productive Games?
Jacques Rogge: We are very, very comforted by the latest budgets. The latest budgets exchanged by VANOC. They seem to have a very good grip on their budget. We are happy. No one has a crystal ball, no one can foresee immediate the future. But today I can say the Games in Vancouver will be a success.
Brian Williams: You mention VANOC. That's the organizing committee. There is a serious problem here, not with VANOC but with the City of Vancouver and the Olympic Village. Vancouver taxpayers could be hit with a huge bill. How concerned are you that this will be the legacy of the Games?
Jacques Rogge: The province has authorized the city to take a loan to bridge the construction that has to be finished by November this year. But, definitely, this loan would be seen as an investment because the apartments will be sold after the Games, and, of course, the profits will come to those who have invested in to it.
Brian Williams: So you are confident that the citizens of British Columbia, in particular Vancouver, will not be hit with a huge tax increase?
Jacques Rogge: I'm fairly confident, that given the... real estate value of the Olympic Village, at which time it's going to be sold without financial issue.
Brian Williams: In Beijing you called Michael Phelps the icon of the games, what is your response to what's happened to him and how it's been handled.
Jacques Rogge: This is regrettable. He has expressed himself, his, his regret about that. He promised that he will not do it again, that he will never smoke anymore. I tend to believe him. He's 23 years old. I think he deserves a second chance.
