Dubai’s debt
The revelation of the Dubai debt moratorium sent the U.S. stock market down for a day last week. It rebounded the next day when the amount of the debt was reduced in public statements. But let’s try to go behind the TV reporting. Does anybody really know the extent of the Dubai debt obligations?
Jeremy Warner at the Telegraph on Dubai’s debt.
Could Dubai’s debt sink Britain’s banks?
Several opinions at the Wall Street Journal.
MoneyWeek weighs the scandal.
“Governments may have “bankrupted themselves” by bailing out the world financial system, says David Smith in The Sunday Times.”
Morgan Stanley warns that Britain may face a debt crisis next year. One result of Britain’s bank bailout may be that British government debt gets rated lower than corporate debt as interest rates rise.
One of the big problems in assessing the financial crisis is that you can’t be sure that governments are telling the truth about the scope of their debts.
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It above my understanding!
Again a good post. Because of your friend
Interesting and informative. But will you write about this one more?
That’s hard to say, but you can keep up with articles on British banks at the Telegraph and the Guardian and the Financial Times.