BF2S Forums Crisis: Dubai Dumps Debt

Varegg wrote:

Dubai is not dumping anything ... yet ... they have merely asked for 3(or was it 6) months delay in payment of $50 billion.

Thought it was 60.

The number is irrelevant, yeah they aren't dumping their debt. If they dumped it Dubai would turn back to sand since everyone would want out.

The problem is the banks which made the loans want their money now since they rely on the flow of cash. They will probably in the meantime just raise rates on others even though IMHO they really wouldn't have to and could very well survive a while with a slightly decreased flow of cash.