Wednesday, 22 June 2011

Arab world will need to take care of itself

International financial institutions have spent hundreds of billions of dollars to avert disaster in the euro zone, but have pledged only a tiny fraction of that amount to help the economies convulsed by the Arab Spring.

Some economists believe the Middle East and North Africa are being told, politely but firmly, to take care of their own.

"The message is that the Arab world is enormously wealthy and should be capable of looking after itself. It's inevitable Europe will look after itself first, and the Middle East should do the same," says Simon Williams, the chief Middle East economist for HSBC.

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