Abu Dhabi Agrees To Fund $10 Billion For Dubai World Debt

From Bloomberg: The government of Abu Dhabi and the Central Bank of the United Arab Emirates agreed to provide $10 billion to the Dubai Financial Support Fund, allowing Dubai World to repay $4.1 billion of Islamic sukuk bonds that are due today, the government of Dubai said in an e-mailed statement.

Dollar haters everywhere rejoice for Bernanke and for global moral hazard.



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