Financial Crisis in Dubai

Perhaps it would have been more prudent for the Dubai/Emirati government to have found a solution prior to them defaulting on their loans. The damage has now been done and the challenge is to limit the impact. Prevention would have been much better than cure.

The newspapers in Dubai are doing their level best to ignore the problem. I could see no mention of it at all in today's Khaleeji Times. One of Sheikh Mohammed's recent statements when asked about the crisis was that all the people complaining (ie the creditors??) were idiots who didn't understand. Sounds to me more like it's you and your government that doesn't understand the problem, Sheikh Mo. Go back to writing poetry and stop screwing up your economy.

There have been so much fairy tales till this end. The government should intervene by making guarantee the debts own by Dubai world so as not to lost its glorious status in the eye of the world. The domino effect could be disastorous.

But do u really think its all over or they have showed it under the carpet till the hell break loss

jpa, your countryman is quite new.

Btw, nice avatar. :0)

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The Cookie Monster said it.

Yak.., maybe he was just born yesterday..

Was discussed last week, posted by Phoenix.

http://www.qatarliving.com/node/820957

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The Cookie Monster said it.

Was that the first time you opened a paper in a year, Mav? ;-)

If everything seems under control, you're just not going fast enough...