Dubai Fallout Continues

GIB Bahrain postpones its US$4 Billion EMTN program.

Markets continue to react adversely - jump in Credit Default Swap spreads for GCC with Dubai leading the way reportedly in the 500's.

And 'Amm Ahmed tries to calm the markets.  So far the market isn't buying it. 

Earlier posts are here, here  with some in-depth comments here.