Lack of financial cooperation for the Zurich stadium project

Swiss hopes for building a new stadium in Zurich for the 2008 European Championships has been blow by Zuercher Kantonalbank, the country's third largest bank, who refused to finance the project. The bank published a statement which explained that construction of a new stadium for Zurich would have brought a number of problems the bank wish not to be involved in. The Swiss therefore will renovate instead the existing Letzigrund stadium as an alternative Euro 2008 venue.