See: Greek Crisis Claims Germany As First Casualty
"Dubai debt fears linger as questions on repayment go unanswered" by Adam Schreck, Associated Press | February 17, 2010
DUBAI, United Arab Emirates - As world markets warily eye Greece’s financial crisis, investors are once again focusing on unresolved questions surrounding how deeply indebted Dubai will pay its bills.
I thought they were resolved.
Related: Dubai's Debt
Blooming in Dubai
You mean I was LIED TO AGAIN by my newspaper?
In one indication of the reemerging concerns, Morgan Stanley said the cost to insure against a Dubai default this week shot to the level it was at the peak of the city-state’s debt crisis in November, before neighboring Abu Dhabi pumped in emergency bailout funds.
Yup, the BANKSTERS TRYING to EXTRACT MORE LOOT and CAUSE a CRISIS on PURPOSE as they have been doing all along!
A major cause for concern is the lack of clear information since the sheikdom shocked global markets late last year with plans to restructure its chief conglomerate Dubai World and delay repaying $26 billion in debt.
Yup, any time you STIFF the BANKS you are SCREWED, notice that!?
Where is their army, anyway?
Talks with creditors, which include big international banks such as HSBC and Standard Chartered, are ongoing.
“The situation is still very fluid and a number of questions remain unanswered,’’ Morgan Stanley analyst Mohamed Jaber said in a report Monday, noting the recent spike in premiums paid for protection against a Dubai default. “The lack of transparency . . . has contributed to the increase in market volatility.’’
It has also given the rumor mill plenty of grist. There are oft-repeated tales of the emirate’s multibillion-dollar manmade islands sinking into the sea - a claim authorities emphatically deny - and of trophy assets such as the storied Queen Elizabeth 2 cruise liner being shopped around at firesale prices.
All that loot wasted.
The emirate’s elite bristle at such reports. Dubai’s ruler has repeatedly blamed his sheikdom’s tarnished image on a foreign media out to embarrass the emirate.
Should he be surprised?
Related: Six Jewish Companies Own 96% of the World's Media
You are Arab and Muslim, right, Mr. emirate?
But the unanswered questions about Dubai’s debt are growing tougher to ignore.
So we have Greece (and Italy, Portugal, etc), Germany, and Dubai on the floor. Who's next?
Jitters returned to the forefront this week when Dow Jones reported that Dubai’s government was pushing a plan that could pay Dubai World’s lenders just 60 cents on every dollar owed.
Oh, yeah, NEVER SHORTCHANGE a BANKSTER!
That will give you what DUBAI is getting!
A Dubai government spokeswoman denied that any deal was on the table. She agreed to speak only on condition her name not be used, citing government policy....
Those assurances may have tided investors over for now.
Translation: They floated the balloon and the banksters popped it.
Dubai’s main stock market posted a modest gain yesterday, following a sharp slide earlier in the week.
Oh, then everyone is happy, huh?
Insurance against a default, measured using rates for financial instruments known as credit default swaps, grew about 1 percent cheaper by evening in Dubai yesterday, according to figures from CMA DataVision. Even so, Dubai ranks among the five sovereign issuers most at risk of default listed by the market data provider.
Yup, the SAME BEHAVIOR that FOULED EVERYTHING UP!
Wall Street and the globalist slaves have LEARNED NOTHING!
Goodbye, global government!!
--more--"
Who goes down tomorrow, readers? Stay tuned.
Also see: The Story That Towers Above All Others
