It’s been a while but before Greece there was Dubai World ! I was talking to a close friend and man ‘in the know’ at the weekend ( Middle-East based) and he mentioned that the wash-up ( those words again !) is likely to be a haircut of 15-20% for creditors and that the deal is in its final throes. I mention this as it was of great fear to sterling’s fortunes when UK lenders funding some of DW’s mammoth property portfolios in London were staring some 12+ biggies in the face ( $12bn). In the scheme of things they may lose a couple of bn between them which is no doubt already cleaned off their balance sheets. Either way no longer a ghost haunting cable’s fortunes