Bailout

Euphemisms of the day, Dubai edition

By Felix Salmon

Maria Abi-Habib reports:

Gulf News, a newspaper part-owned by a senior government minister in the United Arab Emirates, has told its journalists to avoid using the words “bailout” and “default” when writing about Dubai’s debt crisis…

Reporters for the paper, the largest English-language daily in the U.A.E., were also urged to steer clear of the phrase “debt crisis” and asked to “ensure the following politically correct terminology is used” — words such as “financial consolidation” and “fiscal support” — when describing the sheikdom’s economic problems…

“This is a style guide,” said Francis Matthew, the Dubai-based paper’s editor-at-large when asked by Zawya Dow Jones about the memo. “We’re trying to restrict people from using financially incorrect terms.”  

Remember this, reporters! AIG, Citigroup, Frannie, GM, etc etc didn’t get bailouts, they got fiscal support. Or, better yet, they simply experienced financial consolidation. Sounds so much better than, you know, bankruptcy.

(Via the indefatigable Daniel Lippman)

Full post as published by Macroprudential on December 23, 2009 (boomark / email).