Shukran, Abu Dhabi, thank you. Dubai's wealthier neighbour will, after all, bankroll the emirate's largest state-owned conglomerate and stave off default. In an apparent change of heart, it has made a $10bn down payment to tide over Dubai World until April. The parallel with Greece, another state that has lived beyond its means, is striking. Just as the United Arab Emirates was expected to back Dubai World and its quasi-sovereign risk, so the European Union and European Central Bank may yet support Athens – protests from Brussels and Frankfurt about Greek profligacy notwithstanding. Moral hazard is being writ large in the Gulf, and perhaps in Europe too.
谢谢，阿布扎比，谢谢你。迪拜这个更富有的邻国最终还是决定为迪拜最大的国有企业集团提供资金，避免其违约。在改变了先前的态度之后，阿布扎比已支付100亿美元的首期资金，帮助迪拜世界(Dubai World)度过明年4月前的这段时间。与另一个入不敷出的国家希腊相比，两者有惊人的相似之处。就像阿联酋将支持迪拜世界及其准主权风险一样，欧盟和欧洲央行(ECB)也有可能为雅典提供支持——尽管两者对希腊的肆意挥霍提出了异议。海湾地区的道德风险正在扩大，欧洲或许亦是如此。