| From Thestar.com: Global financial markets were rocked late last week by the startling news that the Persian Gulf emirate's sovereign wealth fund (SWF), Dubai World, is effectively insolvent and has arbitrarily declared a six-month moratorium on debt payments it's unable to make.
Global currencies from Colombia to Singapore took a tumble, and stock markets worldwide had a panic attack, fretting that some of the world's other 30 or so SWFs might soon also be in dire straits. Many SWFs have extensive debts outstanding with the world's largest banks.................................Full Article: Source
|