Italy announced that Rome will submit a bid to host the 2024 Summer Olympics, Italian Prime Minister Matteo Renzi said.

Italian Prime Minister Matteo Renzi announced Monday that Rome will submit a bid to host the 2024 Summer Olympics.

Italy planned to bid for the 2020 Summer Olympics, but backed out due to concerns about the country's finances. Tokyo ended up winning the rights to host the games.

"The Italian government, together with CONI, is ready to do its part for a project that isn't based on great infrastructures or big dreams but rather great people," Renzi said, according to the Associated Press. "We will be at the vanguard for all the spending controls."

Renzi said that the country seems too hesitant and says it is "unacceptable not to try" to at least bid for the Olympics.

Germany announced its planning to bid for the games, with France expected to join. The United States will announces its intentions on possible bidding on Tuesday. The International Olympic Committee's deadline for submission for the games is September 2015, with the winning bid to be announced in 2017.

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Italy also hosted the 1960 Olympics and is expected to use some of the same facilities that were used during those games. Some events are expected to be held outside of the city.

"The bid will obviously be centered on Rome," Renzi said. "But it will also involve Florence, Naples and Sardinia...We're making this bid to win."

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