Date: 05/12/2020
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Abu Dhabi to Dubai: Do I Know You?

Abu Dhabi will probably come hat in hand to us, saying something about how it's not fair that they should have to pick up the tab for their profligate brethren and how we're all in the "global market" together and how bad news like this affects us all, etc., etc. 

ABU DHABI (Reuters) - 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....