The U.S.A. followed each of these methods, but that did not prevent them from becoming involved in the World Financial Crisis which swept Europe in the early nineteen thirties.

That loss far exceeds the loss in 1951, the year of the World Financial Crisis which followed Korea, and the year which provides the inspiration for almost every speech that the Prime Minister makes on economic affairs.

They comment that the upshot to the exhaustion of the United States gold supplies would be a World Financial Crisis.

They would not just be talks with Saudi Arabia or OPEC and Britain but among all the leading financial countries, oil producers and oil consumers to contain and co-ordinate action against a World Financial Crisis.

The reality is that if the Governments of other countries had been as prudent as this Government, there would not be a World Financial Crisis.

The Prime Minister: Of course the difficulties involved in the World Financial Crisis have made a difference to developing as well as developed countries.

Of course the difficulties involved in the World Financial Crisis have made a difference to developing as well as developed countries.

My hon. Friend the Member for Harlow (Mr. Rammell), in a thoughtful speech, stressed again the improvement in public finances, the investment in public services, the achievement of economic stability and - underlining the point made by the Select Committee on the Treasury - the success of our new monetary policy framework in avoiding recession despite the World Financial Crisis.

That is a series of positive proposals for a nation battling with a World Financial Crisis, elements of which are made in Britain, and where parts of the British predicament make responding that much more difficult.

This has been, and still is, a World Financial Crisis: I am sure that we will look to learn the lessons from it, and some of the lessons learned from previous episodes have been incorporated in the Bill.

In the initial part of This World Financial Crisis, did we not see disunity in adversity?

I should perhaps point out to the hon. Gentleman that borrowing as a proportion of gross domestic product will be not dissimilar to the level that it reached in the early 1990s, when, in fact, the Conservative party doubled the national debt in the space of just five years in response to a home-grown recession, when it did not have an international, World Financial Crisis to deal with on a scale that we have not seen for many generations.

It is, however, the World Financial Crisis and the rocking of the foundations of confidence in the integrity of our politics that represent the most significant changes since this Parliament was elected in 2005.

The World Financial Crisis has caused the biggest shock to our economy for very many generations, but despite the recession and despite the big increase in the number of full-time students, the proportion of working-age households where no one works has, in fact, fallen since 1997.

Undoubtedly these pockets of offshore tax havens were a contributory factor to the World Financial Crisis, although I am not suggesting that it was in the front line, and there is an element of systemic risk attached to that, so we need to ensure that we have much better flows of information.

To continue the religious theme, the previous Government were believers in the doctrine of what Stephanie Flanders of the BBC called the "immaculate recession", in that it had no preceding boom and everything was on track and on trend until the World Financial Crisis hit us out of the blue.

However, when the World Financial Crisis came, it hit countries such as the UK, which had large financial sector industries: the USA, Britain, Ireland and Iceland all had large financial institutions and were hit harder when the financial crisis came.

This has, of course, been the case since the World Financial Crisis first started to unfold back in May 2007, when the depth and breadth of the toxicity of financial instruments, initially mainly inside the United States, started to emerge.

We know all too well from the World Financial Crisis of 2007-08 that business anywhere is truly international, global and incredibly complicated.

Well, they entered office two years ago in the face of a Major World Financial Crisis, a crisis that had a particularly damaging effect on the UK because of the disproportionate importance of the financial services industry in our economy, as the noble Baroness said.

It was good to see the Chancellor pop into the Chamber a few moments ago, although I wish he had been here a few moments before that to hearthe hon. Member for Spelthorne (Kwasi Kwarteng) accuse him of “absolute madness” for saying in opposition that he would back Labour's spending plans, right up to the World Financial Crisis in 2008.

That World Financial Crisis led inexorably to the rise of fascism and Nazism and into the second world war.

The UK Treasury used £37 billion to bail out Scottish-based banks during the World Financial Crisis, saving more than 400 RBs jobs in Inverclyde.

The World Financial Crisis hit everybody, but I will be contending that the actions, or inactions, of this Government over the past five years of office have made the situation significantly worse and have placed the burden of the austerity programme on the poorest in the land.

However, as one of the many consequences of the 2008 World Financial Crisis, that company went into liquidation in 2010, and his job with it was no more.

The terrible tragedy of 9/11 diverted the world's attention from the need to maintain support for the Global Fund, and then the World Financial Crisis severely affected the willingness of donor countries to contribute.