The city of Dubai is one of the most modern cities in the world, and yet it is also built on borrowed money from Swiss banks. How can you not know that the banking crisis occurred in the United States, a large ripple effect throughout the world.
This is because many foreign banks to purchase packages of mortgage investments. These loans were valued beams are imprecise and therefore insured, and all those banks that looked like a solid investment participantsnow paying a heavy price.
With the near-collapse of Swiss banks, whether they are still able to provide loans to local governments and construction companies in Dubai? These are some of the most expensive of the real world. These buildings are beautiful, but they are collapsing because of this banking crisis.
For too long, the promoters of Dubai for the greed and careless use of oil resources show that collateralizedthese huge loans from Swiss banks. Now, with oil prices below $ 70 a barrel and headed toward $ 50 a barrel, one must ask whether it is capable of debt by the Swiss banks, which have already been hired service.
Not to mention the fact that prepared the Swiss banks can not lend more money, and there are large projects with huge skyscrapers that half built and maintained complete reference for the further funding for the projects. Not much talk about the problems of a fullFinancial and real estate crash in Dubai, but those that are, in fact, are very worried about how good they are.
It is not my intention to become a supplier of bad news and please do not shoot the messenger, but we all know that the irrational and wasteful spending can never last forever. Is becoming a reality check, there is always and Dubai is no exception. Please consider this and the irresponsibility of the housing bubble in Dubai.
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