How much money does it take to be a European Capital of Culture?

Several Romanian cities, amongst them Cluj, Timisoara, Arad, Craiova and Iasi, have officially announced their intention to compete with each other for the 2021 European Capital of Culture (ECoC) title. For the competing cities this translates into the intention to sustain, if elected, an immense organizational and financial effort over the six-year period prior to the actual event. How much are they ready to spend on this race, due to start at the end of the year, and how much in EU structural funds are the cities able to attract to build and upgrade their infrastructure?…READ MORE.