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


Issue 867 - 04 Dec 2009 | 2 minute read

Most investors refused to question starry-eyed statements about Dubai’s mega-investments or assumptions that oil-rich 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

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