Greece has been stripped of the 2013 Mediterranean Games because of financial problems and delays in getting the facilities ready, the International Committee for the Mediterranean Games (ICMG) have announced.
"I can confirm that the decision has been made to move the 2013 Mediterranean Games from Greece," said ICMG President Amar Addadi.
A vote of 12 to 1 at the ICMG meeting in Paris led to the country being stripped of the Games it was awarded four years ago.
"We have not decided as yet on the new venue but there are several alternatives which we have as back-up and the decision will be announced in due course," Addadi said.
Pescara, the Italian venue for the 2009 Games, has been suggested as one possible alternative for the multisport event which has been held every four years since 1951 and involves 23 countries.
The cities of Volos and Larissa in central Greece were awarded the event in 2007 but the Government's decision to withdraw 190 million euros ($252 million) of funding for accommodation during the country's economic crisis cast doubt on Greece's ability to host the event.
The Greek Organising Committee proposed housing 7,000 athletes and officials in university accommodation and luxury cruise liners at the port of Volos after losing the funding but officials rejected the plan.
The Government also failed to supply the ICMG with the guarantees it had been waiting for since last year, which was a major worry for the committee.
The Greek Government claimed that they could still have staged a memorable Games if they had been allowed the opportunity.
"They wanted certain luxuries which had to be cut," a spokesman said.
"We had said that the Games would take place the way that we wanted."
It would have been the first time Greece had held the event since Athens in 1991.
"This is a slap for Greece, as it constitutes a blow to the prestige and the significance of the country in the sporting world," said Hellenic Olympic Committee president Spyros Kapralos.
"This was something we could have avoided by returning the Games ourselves last year when we had the chance.
Isidoros_Kouvelos_speakingThe only member of the ICMG executive committee to vote against Greece losing the games was Isidoros Kouvelos (pictured), the Greek general secretary of the ICMG and head of the Bidding Committee that earned Volos and Larissa the games four years ago.
"I am particularly disappointed, as we did our best in 2007 to get the Games," he said.
"The inertia and lack of communication between the Government and the ICMG cost us dearly in this case."
Only last week Greece's Deputy Culture and Tourism Minister Giorgos Nikitiadis presented a Parliamentary Committee with a draft law for the preparation of the Games, stating that "the aim is to host the Games adequately at the lowest possible cost, to upgrade the region of Thessaly through infrastructure projects, to highlight selected areas as tourism destinations and to develop sports education in local communities.
"This is a great chance for the development and the promotion of Thessaly."
There was anger in Volos and Larissa at the decision - mainly directed at the Government.
"There is serious political responsibility for the delays, the time lost since undertaking the games, the Government's decision to go back on contractual commitments and the consequences this decision entails," Volos Mayor Panos Skotiniotis said.
"Without ever believing in the unrealistic expectations created, it was our view that the event was a considerable opportunity for our city and Thessaly in general."
His counterpart in Larissa was also upset.
"The people of Larissa and Thessaly feel betrayed," stated Larissa Mayor Constantinos Tzanakoulis.
"It is clear that the Government and the Finance Ministry had for some time now decided to avoid the hosting of the Games, ignoring all alternative solutions submitted by the Organising Committee and the two town Councils."