Dubai debt problems shock – answers

correct the sentences

1. Dubai has enjoyed 30 years of spectacular growth. 2 decades, 20 years
2. The call to postpone repayments to creditors was expected. it was a ‘shock-call’ i.e. unexpected
3. The two companies involved are pleased to have hit the headlines. no, they hit the headlines for the wrong reasons
4. The announcement was badly timed. it was well timed – after the stock market closed and just before a long-weekend Muslim holiday – to protect the internal markets
5. The cost of insuring Dubai’s debts against default fell to its lowest level since February. the opposite, it was ‘sent skyward’
6. The Emirate managed to restore confidence on Thursday. It was trying to do this but we don’t know if it succeeded.
7. All European banks share prices fell as a result of the announcement. not all, only those ‘exposed to the crisis’
8. The London Stock Exchange may cut Middle East holdings. the opposite, they fear that Middle Eastern shareholders will cut their holdings in the London Stock Exchange
9. Abu Dhabi may face the same crisis. no, the may help Dubai, their neighbour
10. The Dubai model may yet survive the crisis. not likely ‘it almost certainly spells the end of the Dubai model….