Sunday, May 29, 2011

Arab Bank for Counter-Revolution

"Meanwhile, Qatar has been talking to oil-rich Gulf partners about a new plan to create a Middle East Development Bank to support Arab states in transitions to democracy. It has been inspired by the European Bank of Reconstruction and Development that helped to rebuild the economies and societies of eastern bloc countries at the end of the cold war. One person familiar with the Qatari plan for a Middle Eastern development bank said it envisaged tens of billions of dollars of yearly lending for political transitions. He said Qatar was seeking the support of Saudi Arabia, Kuwait and the United Arab Emirates for the initiative." (thanks Sultan)