Phew, thank goodness for that. I though for a moment that Dubai might just be the domino that causes the ripple effect resulting in a global collapse via the redemption of interlinked Credit Default Swaps.
But no, Gordo, Saviour of the Omniverse, assures me it will be OK....
The Prime Minister said he had spoken with senior figures in Dubai and was confident that the debt problem was containable and localised.
Well thats all right then.
Jeremy “Doesn’t Do Dinners”
13 hours ago