The Arabs, of course, have brought, but the second wave will not

Problems Emirates - Dubai - made investors nervous state investment corporation appealed to the creditors with a request for deferment of payments until the end of May. Total debts of the emirate and its state-owned companies now account for about $ 80 billion in the next 3 years, according to agency Standard & Poor's, they will have to pay a $ 50 billion, "If an agreement with creditors to achieve will not be able to happen one of the largest defaults, because of which European banks may suffer, "- noted experts" PSB ". According to the Banking Association of the emirates, with the largest lenders in Dubai: HSBC ($ 17 billion), Standard Chartered ($ 7,8 млрд), Barclays ($ 3,6 billion). Experts are concerned that it might be a Dubai company will sell its assets, which would have a negative impact on the markets, especially in real estate. "Problems of Dubai will have a huge impact on world markets. Today, all world markets are interlinked," - said the head of Center for Real Estate at the Massachusetts Institute of Technology Tony Choquette. "It is possible that Dubai will have to sell off part of the property at very low prices that negatively impact on the entire real estate market" - says banking analyst Richard Bove Rochdale Securities. Asset value conglomerate rough estimates of 100 billion dollars. Meanwhile, other experts are not inclined to dramatize the situation. According to the bank Credit Suisse, the amount of debt in foreign currency Dubai World is a $ 22 billion, which amounts to only 0.05% of total assets of banks in the U.S. and Europe. Today the Central Bank of the United Arab Emirates has opened a special program to provide additional liquidity to the banking sector. "The support of the home country UAE and branches of foreign banks strengthens the faith of the financial market in the emirate. We are confident that Dubai and the Emirates as a whole has successfully overcome the difficulties encountered and will continue on its path of dynamic development of the economic system," - said chief executive officer of Standard Charted Peter Sands. In addition, Bank of Abu Dhabi and Dubai will open a credit line for Dubai World in the amount of 24.27 billion dollars Experts IC Grandis Capital, noted that "Abu Dhabi (the largest emirate in the UAE - Ed.) Is own fund volume of 630 billion dollars as himself Abu Dhabi and the UAE's neighbors, such as Qatar, Dubai can provide support, as this in the interest of stability of the entire region. " "I think that this is clearly not a sign of a new wave of crisis," - commented Bank.ru analyst UK "Kapital" Feodor Naumov. "Yes, there are still problem assets, many of them, but still the situation in financial markets is improving. And this default - the residual effect. Since the beginning of the crisis, many expected that this fund can be problems. Management led quite a risky irgu. But this incident not lead to severe systemic consequences, "- says the expert.