Madrid 2020 Bid Approved

Deputy Mayor Manuel Cobo told legislators, "we cannot let this opportunity pass".

But the bid was opposed by lawmakers from two other parties because of city debts in the amount of seven billion euros, and that the money would be better spent on public services.

Union Progreso y Democracia (UPyD), one of the parties that opposed the bid said, "we cannot ask citizens to make this enormous effort because in the end it will be them who pay the bills. It's not acceptable that there is no money for senior citizens' homes, public schools or assistance for small and mid-sized firms, but there is for the sporting facilities for the Olympic Games".

The Izquierda Unida (IU) party decided to withhold its support. Spokesman Angel Perez said the bid was not supported, "in the belief that Madrid's goal as a city should not be to organize an Olympic Games but instead a fairer project that is more balanced in a political and social sense".

Cobo said about 80 percent of the infrastructure needed to host the Games was already in place, while PSOE spokesman Jaime Lissavetzy said 20 million euros could be raised from private sources that would render the bid "zero cost".

Madrid was on the short list for the 2016 Summer Games bid but lost to Rio de Janeiro, and also lost an earlier bid for the 2012 Games which was won by London.