In a statement issued today, Boris Gruesome, London Mayor, admitted that the 2012 Olympic Games might not actually happen, or at least not in London.
Mayor Gruesome admitted that with spiralling costs and the banking system in turmoil, the project may well have to be shelved.
'It's not an ideal situation' Gruesome admitted. 'This is a massive project and the money simply isn't there. However we have explored several alternatives in order to not disappoint the British public.
'We can promise a major extravaganza if the olympic games should turn out to be a non-starter. For example we have been approached to host the world Morris Dancing Championships, World Welly Throwing Championships, World Slapping People with A Piece Of Wet Fish Championships, and The World Strip Poker Championships.
'We continue to look at other options.
'Brass bands, police dog displays, and posh people with horses are always popular, so all is not lost.'
So in short we should all be grateful, because 2012 would probably have been an excruciating embarrassment anyway.