Wow….this is surprising, according to the AP Dubai is in serious need of about $59 BILLION:
Abu Dhabi, wealthy capital of the United Arab Emirates, will “pick and choose” how to assist debt-laden neighbor Dubai, a senior official said on Saturday, after fears of a Dubai default sent global markets reeling.
“We will look at Dubai’s commitments and approach them on a case-by-case basis. It does not mean that Abu Dhabi will underwrite all of their debts,” the official in the government of the emirate of Abu Dhabi told Reuters by phone.
Dubai’s crisis exploded on Wednesday when the emirate, known for flashy lifestyles and the world’s tallest building, said it would delay payment on debt issued by one of its flagship firms, angering investors and sending global markets sharply lower.
Dubai was posing…lol???
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lol damn!
59 Billion isn’t really that much debt.
compared to everyone else’s debt these days 58 billion dollars don’t sound like much.
go for the gold Dubia and try to make it a Trillion or more… and then as China for help
oh wow
knew it was too good to be true
looks like Paradise has problems.
I guess “We ain’t getting Arab money?”
Nope it’s Chinese again! They’re keeping everyone (USA included) afloat.
#fail
Dubai is the shyt!