Greece has 'unblocked' €30m so it can build a motor racing circuit capable of hosting a Formula One Grand Prix.
Despite data showing Greece is heading for its sixth year of recession, the government is pushing ahead with constructing the track in Xalandritsa, near Patras.
The total cost of the project will be €94.6m (£75.6m) and it is hoped the circuit will be able to host a Formula One race in the future.
The news comes as a draft Budget for 2013 shows that the Greek finance ministry expects GDP to contract by 3.8pc next year after shrinking 6.5pc this year. Full story...
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Despite data showing Greece is heading for its sixth year of recession, the government is pushing ahead with constructing the track in Xalandritsa, near Patras.
The total cost of the project will be €94.6m (£75.6m) and it is hoped the circuit will be able to host a Formula One race in the future.
The news comes as a draft Budget for 2013 shows that the Greek finance ministry expects GDP to contract by 3.8pc next year after shrinking 6.5pc this year. Full story...
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