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A has given London 2012 another hammering about the 拢9.3billion cost of the Games.

The Commons Culture, Media and Sport Committee accuse 2012 of being willing "to spend money like water".

The cost of the spectacular Aquatics Centre has risen dramatically. But are we losing a bit of perspective on this?

When Athens organisers were at the same stage of their seven-year preparations for the 2004 Games, I remember being called into a private meeting of the International Olympic Committee with the Greeks at IOC headquarters in Switzerland.

In front of a handful of international journalists, former IOC President Juan Antonio Samaranch stood up and launched an unprecedented attack on Athens, warning that the Games would be in danger if they did not get their act together.

London 2012 is in a completely different situation. The fact is that the IOC is very happy with all the progress at the in east London. Senior Olympic officials aren't worried about the Games not taking place in 2012.

So the question is about the cost of all of this building. At the moment, the says the budget is solid.

To stay that way, the ambitious Aquatic Centre, which is designed like a stingray, has to stay within its new price of 拢303 million.

The jury is still out on that one.

But the bigger picture is that London is performing better than many previous host cities.