LONDON, Nov. 27 (Xinhua) -- London Olympics chief Sebstian Coe Thursday pledged to a high quality Games in 2012 despite financial challenges posed by the credit crunch.

    There have been well-reported difficulties over the funding of the Olympic village and uncertainties over the broadcast and media center. Some originally-planned temporary venues could be scrapped in an attempt to drive down costs.

    But the London Organizing Committee chairman denied that those difficulties would lead to a "scaling down" of the Games.

    "We will deliver a Games that serves the athletes as well as any Olympic Games should and we hope better," he said.

    Coe insisted that London was better prepared than ever to deliver a great Game.

    "We move forward aware of the changing economic environment, but remaining confident that we can stage a Olympic Games and Paralympics that the nation wants to see," he said.

    London has an overall 9.4 billion pound budget for construction, infrastructure and regeneration, and Coe said the separate Games-time operational two billion pound budget is "balanced and on target."