CITY VIEWS: ARE YOU CONCERNED ABOUT THE WIDER IMPLICATIONS OF DUBAI’S DEBT ISSUES ?
BRUCE GRIMMER BLUE FIN
“There will be possible wider implications, but I suspect that the UAE will come to Dubai’s aid, particularly Abu Dhabi. I think this is just a hiccup. It’s not as bad as some of the other global debt. It seems to be that the market is overly sensitive.”
EDWARD ROGERS CTC AXION
“I don’t believe it will be a massive problem. Western banks have written down far more than what Dubai owes during this downturn. The market is worried about debt levels at this current time and that’s what’s causing the dip – but we’ve been here before.”
JOHN EDGAR MORGAN FORBES
“I think that there is a worry that Dubai’s problems will have wider implications and a ripple effect – particularly in the property sector. It’s a bit concerning as Dubai has been at the forefront of property development, but I think it’s widely expected that other UAE states will come to its aid.”