Rome abandon Olympic bid

Olympic rings
© PA Photos
Italian Premier Mario Monti withdraws Rome's application to host the 2020 Olympic Games because of financial problems.

Italian Premier Mario Monti has withdrawn Rome's candidacy to host the 2020 Olympic Games.

The Italian capital was expected to challenge Tokyo, Madrid, Istanbul, Doha, Qatar and Baku for the right to hold the Games.

However, Monti has described the plans as "irresponsible" because of the current economic crisis in the country.

Applications to host the event in 2020 have to be submitted by tomorrow.