John Defterios:  
 
 
 
 
 
 
Sheikh Mohammed: Restructure, the companies are restructuring because it's a new world. I'm not worried about the company... the company have got the wealth. So they have something, and they will come back very very quickly, but the relationship, this is very good between the emirates. And we have a challenge now to bring the other emirates in line with Abu Dhabi and Dubai. It's not only me, as a Chairman, as a ruler or as a prime minister, no there is a team behind us. The worst is passed by and now we are looking for the next growth and we have to be ready for it and take the opportunity and get in before the rest of the world.  Everything we started, we are going to finish. Maybe some projects that we are thinking of or in the books that might delay for 6 months, 8 months, one year. But the rest is going forward.

John Defterios: You don't seem overly concerned about the restructuring that needs to take place in the future. We've reached the bottom, you think we can move forward with no real hurdles to cross in the future?

Sheikh Mohammed: We're already moving forward. The structure is ready, bridges, roads, tunnels, everything. We don't have to build, so we are ready now to move forward with the country.

John Defterios: So you have an advantage with infrastructure... how do you protect these sectors from the competing states around you, like Qatar or Saudi Arabia or even Abu Dhabi that have energy resources that you don't have?

Sheikh Mohammed: Abu Dhabi is my country and Qatar is my neighbour and Saudi Arabia. I wish them good luck and I will help, if I can. Even if they ask me, I will help with their growth. Because we need... the whole area needs to grow really, not only United Arab Emirates.

John Defterios: You've created a fourth trading hub. Most people thought of Asia, Europe and the United States in the past. But you personally helped define what the Middle East stands for but should there be greater unification?

Sheikh Mohammed: We understand that the power is shifting, so therefore we have to be ready for it.

John Defterios: If I'm looking at the market of the Middle East at a market of 300 million people and then you have the Gulf states trying to create a single currency. Are you a supporter of the single currency in that process?

Sheikh Mohammed: The euro is in trouble and we thought of the Gulf currency and we said, well the UAE said 'not yet' and I think they are right... until we are sure. So therefore now we will not change anything for the time being until we see something solid really and profitable.

John Defterios: So you think the stability of the dollar peg serves the interests of the UAE?

Sheikh Mohammed: Yes, yes and we still believe in the dollar.