We try to keep our reporting of rumours to a minimum here, but Jesse has been a reliable source before. Here’s his comment from the previous thread.
Of course you don’t need to delve into second hand rumors to find problems with this projects financial foundation. The front page of the Sun today reveals that the development was financed with currency swaps when the Loonies was flying high:
Just when you thought you’ve computed all the risks from the Olympic village crisis, here’s another. The $1.2-billion development has been financed using international “currency swaps,” one of the riskiest ways to borrow.
UPDATE: Mayor Robertson says the city is in process of negotiating a ‘much better deal‘ for the financing and doesn’t believe the city is at such a risk.