Kiev: The Ukrainian opposition will launch an investigation into possible misappropriation of state budget funds during the preparation for the Euro 2012 football tournament.

Ukrainian parliament vice-speaker Mykola Tomenko said Friday that investigations will start immediately after the tournament gets over July 1 here. "The (Ukrainian) opposition will initiate hearings in parliament over the use of budget funds in preparation for the championship the next day after it's over," Tomenko said.

Tomenko, who was one of the most prominent leaders in the country's Orange Revolution and served as deputy prime minister in cabinet of former prime minister Yulia Tymoshenko, said Ukrainian prosecutors must clarify all issues related to fraudulent or inefficient allocation of state funds.

About 80 percent of the funds spent on key projects during the preparation for euro 2012, such as stadiums, roads, airports, were allocated from the state budget, or loans made under state guarantees.

"All this means only one thing: Euro 2012 will end, but the Ukrainian people will continue to finance it, because we will need several years to pay back the loans," Tomenko said earlier. (IANS)