Awaiting the greatest show on earth

J. Albert Gamboa l July 12, 2024 l The Manila Times

PARIS — the host city of the 2024 Summer Olympics — is at the center of worldwide attention over the next few weeks. Officially known as the Games of the 33rd Olympiad, Paris 2024 marks the 100th anniversary of the 1924 Paris Olympics or the Games of the 8th Olympiad, which was also the first time that the Philippines sent an Olympic delegation as the first-ever Southeast Asian nation to participate in the quadrennial sports event.

The Olympiad is often referred to as “the greatest show on earth” not only because it brings the entire world under one roof, but also due to the fact that it shows the way for human beings to coexist peacefully in a conflict-ridden planet. No other global event, whether in sports or elsewhere, can bring the most number of countries and economies together for more than two weeks to witness the crème de la crème compete in their respective fields.

A total of 329 events in 32 sports are scheduled to take place from July 24 to August 11 in the French capital and 16 other cities across continental France with the exception of one event — surfing. Interestingly, the latter’s venue is 15,000 kilometers away from Paris at the Pacific Ocean island of Tahiti in French Polynesia.

Opening and closing ceremonies will be held at the Stade de France, considered the largest stadium in Europe for athletic events. Some iconic Parisian sites are the venues for the following events: Eiffel Tower’s temporary stadium (beach volleyball); Grand Palais (fencing and taekwondo); Trocadero (road cycling); Les Invalides (archery and marathon’s finish line); Pont Alexandre III (triathlon and open-water swimming); Place de la Concorde (3×3 basketball, BMX freestyle, skateboarding, plus a new sport called breaking); and Accor Bercy Arena (5×5 basketball).

This year’s Olympic Games are set against the backdrop of the recent two-round French parliamentary elections that have plunged the country into unprecedented political limbo. The first round on June 30 was won by the far-right National Rally party of opposition leader Marine Le Pen, with the left-wing New Popular Front coalition placing second, and President Emmanuel Macron’s centrist Ensemble alliance falling to third place. Up for grabs in the Parliament were 577 seats, of which 289 are needed to capture the majority and thereby form the bulk of the Cabinet, including the prime minister.

Since there was no clear majority for either of the three main blocs, a runoff election had to be staged last July 7 for the second round. In a shocking turn of events, the leftist coalition emerged victorious with 188 seats, followed by the centrists with 161 and the extreme rightists with 142. This has resulted in a so-called hung parliament with no single party or coalition gaining an absolute majority of legislators that will manage the government’s day-to-day affairs.

Under the semi-presidential French political system, executive power is exercised by the president, who appoints the prime minister. The latter is accountable to Parliament, which consists of the National Assembly and the Senate. This was the model that former president Ferdinand Marcos Sr. tried to emulate in formulating the 1973 Philippine Constitution providing for a parliamentary system under a powerful president who appointed the prime minister and the Cabinet from members of the Batasang Pambansa or National Assembly.

With a period of uncertainty looming over France, it remains to be seen whether Macron made the right decision to call for legislative elections immediately before the Olympics. His second presidential term will end in 2027, but the next three years are seen to be tumultuous for him in view of the divided Parliament.

As a direct result of Macron’s surprise snap polls, election-related anxiety has curbed Olympic enthusiasm among Parisians. The excitement that was building up in the host city has been dampened by panic attacks and worries about the country’s political future.

For her part, Paris Mayor Anne Hidalgo expressed relief that the current government would remain in office while the Olympics are ongoing. She belongs to the Parti Socialiste and believes that the worst-case scenario has been avoided because the surging far-right party failed to come out on top. What she dreaded most was Le Pen or her protégé Jordan Bardella becoming France’s first extreme-right prime minister for the duration of the Summer Olympics.

As France prepares to welcome 15 million Olympic visitors starting next week, local organizers hope that public disturbances will not mar the event hosting. Let’s all pray for a peaceful and successful outcome of the 2024 Paris Olympics as well as more gold medals for Team Philippines.

*** The author is the chief finance officer of Asian Center for Legal Excellence and vice chairman of the Finex Ethics Committee. The opinion expressed herein does not necessarily reflect the views of Finex and The Manila Times. #FinexPhils www.finex.org.ph. Photo from Pinterest.

Recent Posts

Banking challenges: Focusing on compliance

Benel D. Lagua l September 13, 2024 l Business World A McKinsey report on global banking in 2023 has an important revelation. “One aspect of

Is Retiring an Option?

Benel Lagua l September 12, 2024 l Manila Bulletin The Economist recently published a column by Bartleby entitled “Why you should never retire”. “When this

Our debt service overload

Santiago F. Dumlao Jr. l September 11, 2024 l Business Mirror IT has been repeatedly raised with a note of ascending alarm that our government

Epekto ng Side Hustling

Earvin Salangsang l September 11, 2024 l Pilipino Mirror Ang side hustling o ang pagkakaroon ng iba pang trabaho bukod pa sa regular na trabaho

ALUMNI HOMECOMINGS

Wilma Inventor-Miranda l September 10, 2024 l Manila Bulletin The recent months have been full of alumni homecomings especially this month of September. We recently

Address:

Financial Executives Institute of the Philippines

Roberto de Ocampo Center for Financial Excellence,
Unit 1901, 19/F 139 Corporate Center,
Valero St., Salcedo Village
Makati City, National Capital Region, Philippines

Telephone:
+63 2 8114052 / 8114189