‘Dubai crisis came as no surprise’, says UK's chief regulator
In an exclusive interview with FRANCE 24, Lord Adair Turner, Chairman of the UK Financial Services Authority (the UK market regulator) said the debt crisis in Dubai is "a normal adjustment process… and expected".
Lord Adair Turner, the Chairman of the Financial Services Authority (UK market regulator), has spoken out about the debt crisis in Dubai, pointing out that the current situation was in fact expected. Turner said that it has been “known for sometime that there would have to be some processes of restructuring of debt.”
Turner did submit that the communication surrounding the crisis was “unfortunate.” In the interview he argues the events over the past week “are not telling us anything new.”
The interview was recorded Monday night at the British Embassy in Paris. The full inteview will be aired this Friday as part of the weekly Business Interview programme on FRANCE 24, and will be available on the website here.