Andrew Rawnsley considers the ruinously expensive folly of the London Olympics and suggests a way out of the quagmire.

"The most priceless moment of Ms Jowell's appearance before MPs was when she got to explaining the 'delivery fee' for the management of the project. What was £100m in August has now inflated to £500m. The cost of cost-control has quintupled! In just three months! This is the mad, mad world of the Olympics."

"When the French lost the Olympics, they were stunned and upset that they had come runners-up to Britain, almost as stunned and upset as those of us who never wanted these impoverishing Games in our city. France has a better record of making a reasonable fist of grand projets like this. In the French presidential elections, Segolene Royal and Nicolas Sarkozy will be competing to please French national pride. How about inviting Sego and Sarko to bid to take the Games off our hands? Just a thought. A better one, surely, than the idea of squandering ballooning billions on this benighted five-ring circus."