Foster's Russia Tower falls victim to credit crisis

Foster's Russia Tower falls victim to credit crisis

The British architect Norman Foster became the latest high-profile victim of the global economic crisis yesterday when developers in Russia said they were scrapping plans to build his design for Europe's tallest skyscraper.
Moscow's 600-metre high Russia Tower, which was supposed to dwarf Canary Wharf in London, would no longer be constructed, real estate magnate Shalva Chigirinsky said. His firm had run out of money, he admitted.
"Say thanks to [former US federal reserve chairman] Alan Greenspan and George Bush," Chigirinsky told Reuters last night, adding that since the financial crisis in the US it was impossible to get any credit.

Foster and Partners official website