Bernie Ecclestone has confirmed that he’s still considering a street race in Greece, despite the troubled economic state of the country.

The proposed race, which would be backed by private funding and run by promoter Dielpis, has been in the planning stages for some time – as far back as 2009 – although little has been heard recently. It might be given the Mediterranean GP name, which has been trademarked by FOM.

“The Greeks are keen,” Ecclestone told CNN. “They want me to go and see the Prime Minister or the mayor. We will have to find out if they have got any money.”

The venue is the Keratsini-Drapetsona municipality, some six miles to the west of Athens. Track architect Athanasios Papatheodorou said: “The Prime Minister himself has supported fully the initiative for organising F1 races and is looking forward to the instruction from the relevant international federations to realise the Dielpis F1 project.

“The greatest benefit for our country would be giving to the world the opportunity to see the most historical port of the Mediterranean sea. And our experience at organising big events, such as the 2004 Athens Olympic Games, is a big credential for us.”