And hopes that the EFSF's firepower could be increased to a trillion euros - the bare minimum deemed necessary - took a knock yesterday when its boss, Klaus Regling, said that the current turmoil in markets was limiting the EFSF's ability to raise what's needed from its current endowment of resources.

BBC: France squeezed by markets

Outside of oil and gas projects and a few specific infrastructure projects (ports like Jebel Ali and airports like Dubai), far less real economic development has happened in the oil-rich parts of the Arab world than would be expected based on their great endowment of human and natural resources.

FORBES: Why Have The Islamic Countries Failed To Develop Even With Resources Like Oil, While Countries With No Resources Like Switzerland Have Flourished?