Fears of another 2008-style banking crisis have resurfaced this week after Credit Suisse got a £45bn emergency loan from Switzerland’s central bank while US authorities have stepped in to broker a £24.7bn rescue package for First Republic.
Stock markets have been jittery amid worries that isolated failures could widen to affect the global banking system, reviving bad memories of the financial crisis that plunged many Western economies into recession in 2008-09.
