(Radio Netherlands, Amsterdam, 14 December, 2009) Dutch companies wanting to invest in Dubai will no longer be able to insure their investments with the Dutch government. Minister of Finance Wouter Bos no longer wants to stand as guarantor for financial losses if Dubai does not pay its bills. Dubai, which is one of the 7 United Arab Emirates, is suffering badly from the financial crisis. This has led to the Netherlands facing a bill for €350 million from Dutch businesses that insured their investments with the government before the crisis. We noted last month that some analysts fear Dubai could be the canary in the coal mine for heavily indebted countries and overly leveraged banks.
Date
4 December 2009
