Reflecting on the credit crunch five years on

Help

Five years ago on August 9 2007, the credit crunch started as a result of banks beginning to worry about lending.

Sir John Gieve, former deputy governor of the Bank of England, told the Today told presenter Evan Davis that at the time a correction in the markets was expected, not "a total meltdown".

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.