Goldman on Dubai "Dubai Doubts & Implications on Finance"

Zero Hedge

Goldman on Dubai (12/01/2009) “Dubai Doubts & Implications on Finance” (1:03 hours).

Some hightlights:

“Unfortunately we don’t have very much data… unfortunately we don’t even know how much outstanding debt Dubai has….”

“We don’t have official GDP numbers….”

“…this suggests that Dubai’s outstanding liabilities may be close to 200% of GDP….”

“…the underlying fiscal position is structurally unsustainable….”

h/t: Hedged In

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