Originally Posted by
ferris
The big difference is that Dubai isn't a country.
the other big difference is that Dubai has already done the rounds of trying to get finance, and the result of that was the recent announcement. It is a statement that already no one is lending them (DW) money (in the quantities required).
So then they do a GM and liquidate Nakheel - I agree that would have a negative effect on the other property companies but the idea that after that nobody would lend a cent to anyone in Dubai is a bit far-fetched.
As the boss at HSBC said today - “I am confident that the leadership of Dubai and the UAE will overcome any short-term issues they face – which appear to have been somewhat sensationalised”