Crisis? What crisis? Reports of ‘looming’ Dubai crunch greatly exaggerated | The National:
"The British media’s “silly season” has obviously arrived. Over the weekend one newspaper rustled up some six-year-old photos of dusty cars abandoned at Dubai airport and slapped a headline on it: “Another Dubai debt crunch is looming as oil slump hits the Gulf”.
Forget the cheap imagery, notice the word “looming”. In my book that implies an ominous, close threat, with more than a hint of inevitability. If something looms, it normally arrives, with bad results.
But there was nothing in the article that followed that persuaded me there was any such inevitability about a threat of 2009 proportions to the economic and financial well-being of the emirate."
'via Blog this'
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