Bailout of banks in Qatar?
According to spanish newspaper (sorry, only in spanish).
http://www.elpais.com/articulo/semana/Golfo/numeros/rojos/elpepueconeg/2...
There is one point where it is literally written:
"Because some of them (Governments of GCC) have had to bailout banks in difficulties, as Kuwait, Qatar or UAE" ("Porque muchos de ellos ya han tenido que acudir al rescate de algunas entidades financieras en dificultades, como es el caso de Kuwait, Qatar o Emiratos Árabes Unidos").
Is it true? Which one was the bank in difficulties?
Thanks tallg, I think I skipt on these posts, so I will check them...
War looking for peace,
is like fornication looking for virginity.
For those who don't understand Spanish ...
need to raise money on the wholesale markets so they can lend it to big real estate projects or similar. Qatar is no different so needs to get its money from somewhere else.
This is where the govt steps in. One thing they do have is lots of cash in the bank and cannot afford their banks to go belly up. Damage of reputation would put increase the price of credit in the future and damage the economy.
Several Qatar banks have had cash injections from the government over the past few months. I can't remember exactly which ones off the top of my head. They were all reported in the local press, and discussed on QL.