Dubai in the poopy stuff

Kris · World Chat Champion Joined: 03 Feb 2002 Karma :

https://www.guardian.co.uk/world/2009/feb/13/dubai-boom-halt

Employees who lose work in the UAE automatically have their visa rescinded, generally giving them 30 days to leave.

"I look out of my balcony every day and I see Brits by the pool on their laptops," said Andrew Hillocks, 29, a sacked telecoms consultant whose passport has been seized. He will be escorted to the airport next week. "They're looking for work that just isn't there. I sold my car to cover my loan, but other people are panicking."

Under Dubai's strict legal code defaulting on debt or bouncing a cheque is punishable with jail. Any expatriate in financial difficulty knows the safest bet is to take the next outbound flight.

This is what happens when you build a city on a debt-economy.

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