Yanukovych revealed last May that they had already begun investigating a potential bid based in Bukovnya in the Carpathian Mountains, a plan that has the backing of former world pole vault record holder Sergey Bubka, who is the President of the Ukrainian Olympic Committee and an influential member of the International Olympic Committee (IOC). 

"If we pass this exam, keep our word, build the infrastructure, host Euro 2012, show the world that Ukraine meets the standard of 'five stars of quality' and hospitality, 'Olympic Hope 2022' will become a reality," said Yanukovych.

"Then, immediately after Euro 2012 we will proceed with 'Olympic Hope 2022'," he said.

Ukraine's build-up to Euro 2012 has been overshadowed by problems in building the stadiums and infrastructure.

Last month UEFA President Michel Platini admitted that the European governing body had made a mistake in choosing Ukraine to host the event.

But Yanukovych claimed that things were back on track now and that the tournament would be a success.

"Clearly, the picture of early 2011 was sad and shameful, arousing the feeling that we would disrupt this European holiday," he said.

"This would be very bad for Ukraine's image.

"I would like to thank the builders and managers involved in the construction, leadership of the city and the region, the UEFA and Mr Platini.

"Today, we are working together for our common future, the name of which is Five-star Ukraine."

The IOC is due to choose the host city for the 2022 Winter Olympics and Paralympics at its Session in 2015.

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