Scotland and Wales cancel football Euro bid
The credit crunch has claimed another victim, this time it's football.
Scotland and Wales have cancelled plans for the two nations to joint host the Euro 2016 football tournament because of the global economic crisis.
The cost would have been too much, both nations have said.
European countries have until 9th March to apply to host Euro 2016.
Until today only France has submitted an application.
Scotland and Wales have ditched plans for a joint bid to host Euro 2016 because of the global economic crisis.
With European governing body Uefa set to expand the event to 24 teams for 2016, there was concern that the costs would have been prohibitive.
Both countries would have had to spend many millions upgrading and building new stadia for the tournament.
Federations have until 9 March to apply to host Euro 2016, but so far only France has submitted an application.
Talks over launching a joint bid had been held between the Scottish Football Association and the Football Association of Wales last year.
But the only ground in Wales that currently meets Uefa's requirements for a major event is Cardiff's Millennium Stadium.