one of those billion will be for wroclaw stadium alone. as i understand it some of the money is a loan and needs to be paid back. result: debt for the city for the next ten years.
True, all those stadiums are nice but costly. I saw somewhere that overall cost for Wrocław stadium is around 800 mln zł. From that 500 mln zł are financed via credit so we should add interests from that. The idea is that stadium will manage to generate enough profit to pay off this credit. It remains to be seen if stadium operator will be able to make this profit. Good thing is that stadium operator SMG is a big global company wich can bring big events to this stadium (like big stars concerts and so on). So in theory not all this debt will be financed by the city.
Anyway, that costs was and still is a reason for doubt for me, it would be nice to attend some events there though.
the company building the stadium said on the news recently that they were 'optimistic' about completion. at the moment it is nothing more than a steel frame.
Actually after problems with previous main contractor, currently stadium is growing very nicely :-) :
and there is no sign of the shopping centre that should accompany it.
Shopping centre is a different story. In fact is has not much to do with Euro 2012. It has a lot to do with local football team "Śląsk Wrocław" and the concept of financing of this team. It is rather unlikely that they will build it before Euro 2012 because they have a problem with bank credit for that. It is not investition of the city, which is involved though because it has shares in "Śląsk Wrocław", but is not a guarantor of a credit or anything like that.