Problems regarding the financial security of Dubai may have a negative impact on Banks in the UK and could affect finance graduate schemes.

European bank shares took a hit today over these fears, with concern that banks may be exposed to debt problems in the Middle East.

Today an investment company owned by the government of the United Arab Emirates, Dubai World, announced that is wishes to delay repayment of its debt.

The firm has more than $59 billion (£35.8 billion) in liabilities and wants to delay payment until the middle of next year.

If British banks are unable to recoup the money they are owed as quickly as they would like, this could have a negative impact on finance graduate jobs and it is possible that fewer opportunities will be available.

Earlier this week, the British Bankers’ Association called on the government to intervene in a dispute in Saudi Arabia which is currently threatening £12 billion of debts to UK banks.

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