The UAE economy is immune from external economic shocks, according to Hani Al Hamli, secretary-general of the Dubai Economic Council, or DEC.
The council constantly monitors developments in the European debt crisis and its repercussions on the GCC economy, Al Hamli said in a statement.
He stressed that there are no direct effects of this crisis on the UAE and many countries in the region because banks operating in the country are not exposed to European credit markets.
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