Brown Rules Out Adverse Impact of Dubai 'Setback'

In a move to strengthen the confidence of investors, UK Prime Minister Gordon Brown asserted that Dubai's debt crisis would be resolved soon and it would not have any adverse impact over recovering global economy. Mr. Brown added, "While it is a setback I think we will find it is not on the scale of previous problems we have dealt with. I think global recovery has depended on monetary action and fiscal stimulus." The PM took notice of the situation calling senior leader in Dubai and asserted that there is no cause of worry given to localized nature of the debt problem, confined in a small geographical area. Mr. Brown, the Chairman of G20 group, also discussed the matter with the Chairman of the Financial Stability Board, Mario Draghi, discussing measures to mitigate its impact over the economies of other nations.