NBU does not have cash for Euro 2012

The National Bank of Ukraine (NBU) has told the government that it is unable to allocate over $1 billion for the organization of Euro 2012, the UNIAN news agency said on Wednesday, RIA Novosti reported.

The news agency quoted an unnamed bank source as saying that the NBU was unable to allocate the money for the tournament, which Ukraine is co-hosting with Poland, due to a lack of funds.

The Ukrainian parliament earlier amended the 2009 budget to allow the allocation of an extra $1 billion for Euro 2012. However, President Viktor Yushchenko vetoed the bill and returned it to parliament. It eventually entered into force on October 15.

Ukraine's readiness for Euro 2012 has been a constant source of concern for UEFA, which has only confirmed that games will be played in the capital, Kiev. Poland's preparations have been approved by European football's governing body.

Although Kiev has been guaranteed games, it may lose the final. A decision on the venue for the final and the suitability of the three other Ukrainian cities - Donetsk, Lvov and Kharkov - will be made on November 30.

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