In the Asian economic Crisis in the Late 1990s, which mainly affected south-east Asia, the problem of banks with an enormous portfolio of bad debts was uncovered.

I well remember the Crisis of the Late 1990s, when I attended packed meetings with the former Member for Brecon and Radnorshire, now Lord Livesey.

I well remember the Crisis of the Late 1990s, when I attended packed meetings with the former MP for Brecon and Radnorshire, now Lord Livesey.

We had all that, even despite the Asian Crisis in the Late 1990s, the bursting of the dotcom bubble or the tremors of11 September.