Why did Bern withdraw from the competition to host the 2010 Winter Olympics?

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Vancouver 2010 Olympic Games Official logo of the Vancouver 2010 Olympic Winter Games. The logo is an interpretation of an inukshuk, a traditional Inuit stone sculpture.

Bern, Switzerland, withdrew its bid to host the 2010 Winter Olympics in September 2002, one month after being short-listed by the International Olympic Committee. The city decided to pull out of the competition after a local referendum revealed that a majority of Bern voters were unwilling to provide the necessary financial support for the Games.1