Comments on: Is Dubai debt crisis another Black Swan event?

By: clr

clr — Sat, 28 Nov 2009 23:45:18 +0000

The UAE had better pay now or it will pay much more later. This is the first serious test of so-called sharia finance. If the Sheiks think they can use it to shake down the West, then there is no desert big enough to hide them from vengeful creditors.
It will take many years before UAE regains trust in international markets.
Dubai has become Do Sell.

By: Andy

Andy — Sat, 28 Nov 2009 16:53:57 +0000

This could get ugly..

Christopher Davidson, an expert in Emirate affairs at Britain’s Durham University, wondered if Abu Dhabi wanted to become too deeply involved in lifting Dubai from its fiscal wreckage.
“There is no point throwing good money into Dubai’s black holes,” Davidson said. “These are mistakes of Sheik Mohammed and he needs to deal with them.”