Simon Jack

Yeah, she does.

And she says, look, you know, and again, she says that none of these single risks is enough to create a 2008 style crisis.

But what she said in her own words, and you can go back and listen to this, is that what keeps me awake at night is,

is the risk of all these different things crystallising at the same time and whether the financial system is resilient enough to cope with it.

Now, again, she says that the real thing that can infect the whole economy is if the bank's not going bad.

And she says the banks are in much better shape.

So that's the good news.

The bad news is the deputy governor of the Bank of England, concerned for financial stability, is being kept awake at night.

Yeah.

So I think the verdict is, in a way, is that there's no one single risk which poses the same kind of risk that the banking crisis did for the world economy.

But there are the ingredients there that, if combined, could create a pretty severe financial and economic shock to the world economy.

And it comes at a time when, if you cast your mind back to 2008, 2009, Gordon Brown, for example, Alistair Darling, they were one of the leaders of what was an international response.

to that crisis.

They did things like they would cut interest rates at the same time in different countries.

They would bail out banks at the same time.

It was very coordinated.

Let's all get around a table, both government and central banks, and try and fix this in a kind of howitzer kind of way.

We're going to throw the kitchen sink at this.

I think with geopolitical tensions, with trade tensions, with China versus the US kind of tensions, the idea of the world coming together to tackle a financial crisis is much harder to imagine now than it was back then.

So his name is Kevin Walsh.