Dubai Government Disclaims Responsibility for Bank Debts
(30 Nov 09 - RV) The Dubai government disclaimed responsibility for the debts of Dubai
World today, dealing a blow to creditors' assumptions that the Arab emirate would
guarantee the conglomerate's liabilities. There was worry that a debt default could
touch off a new round of credit market worries, which plagued worldwide stocks last
year. The director of the Acton Institute’s Rome office, Kishore Jayabalan, told us
that global economic woes are far from over: