Friday, 27 November 2009

Dubai Default

It has been some time since I have posted but the latest fiasco in Dubai, which has effectively defaulted on what is effectively sovereign debt, does demand a comment. You will probably be aware that people in Dubai who fail to honour their debts are sent to prison. Long after imprisonment for debt ended in the effete West you can still go to prison for bouncing a cheque in Dubai.

Which raises a question amongst the cynical here. Does that mean that Dubai's emir, Sheikh Mohammed bin Rashid Al Maktoum, will be presenting himself at the local nick any time soon? No I thought not.

It is hard to be too sympathetic to those caught out by the hypocrisy and illiberalism of these arab states since it has all been well reported over the years. See

Dubai jails woman for adultery - note that husbands are not liable to such penalties
Dubai jails woman for having taken prescription medicine!
Dubai jails people on questionable drug charges
Jailed for debt