Old Project Avalon Forum (ARCHIVE) - View Single Post - Stocks tumble on fears about Dubai debt fallout

piers2210 · 11-30-2009, 12:13 AM

Gents, the Dubai debts are a mere "blip" on the world stage.

At $60billion they are so small that they are only a small percentage of the bail out the UK Govt made to one bank alone in 2008 (Northern Rock) and only a small percentage of the debt is actually due now. It may affect a few banks' short term liquidity, like RBS who have significant lendings to fund Dubai's expansion, but Dubai isn't about to fail.

The UAE as a whole is far more stable than the USA (as an example), buy your apartment there now!! And Dubai is a great temperature now for a vacation!!

11-30-2009, 12:13 AM	#11
piers2210 Avalon Senior Member Join Date: Oct 2008 Posts: 403	Re: Stocks tumble on fears about Dubai debt fallout Gents, the Dubai debts are a mere "blip" on the world stage. At $60billion they are so small that they are only a small percentage of the bail out the UK Govt made to one bank alone in 2008 (Northern Rock) and only a small percentage of the debt is actually due now. It may affect a few banks' short term liquidity, like RBS who have significant lendings to fund Dubai's expansion, but Dubai isn't about to fail. The UAE as a whole is far more stable than the USA (as an example), buy your apartment there now!! And Dubai is a great temperature now for a vacation!!