Lausanne, Switzerland ? It’s the United States vs. Europe for the right to play host to the 2012 Olympics.

New York and four European capitals — Paris, London, Madrid and Moscow — were picked as finalists Tuesday by the International Olympic Committee, which trimmed the field from nine bidders to five.

Missing the cut were Havana; Istanbul, Turkey; Leipzig, Germany, and Rio de Janeiro, Brazil.

The decision by the IOC executive board kicks off a 14-month race that ends with the selection of the host city by the full IOC assembly in Singapore in July 2005.

The choice of Paris, London, Madrid and New York came as no surprise. An IOC report expressed a “high level of confidence” that all four could play host to the games.

Moscow was the wild card, making the list even though the IOC said it was “less certain” about the Russian capital’s capabilities.

The other four cities, the report said, “do not have the requisite level of capability at this time.”

IOC president Jacques Rogge said the executive board could make another cut next May if an evaluation commission found any “serious shortcomings” with any of the finalists.

Tuesday’s biggest loser might have been Rio de Janeiro, which had been seeking to become the first South American city to play host to the Olympics.

Paris came out on top of the IOC report based on 11 criteria, including infrastructure, transportation and security. Madrid was a close second, followed by London, New York and Moscow. They were followed by Leipzig, Rio, Istanbul and Havana.