Anger, denial and difficult questions mark this phase of Dubai’s debt crisis

Most investors refused to question starry-eyed statements about Dubai’s mega-investments or assumptions that oilrich Abu Dhabi would step in if the emirate’s bold investment strategy foundered. The crisis shows that Gulf leaders can no longer shirk their public responsibilities in a globalised economy – and leaves difficult questions to be answered about other firms’ finances and the impact of likely further shifts in the UAE balance of power