The world's top financial watchdog and the finance minister of Europe's biggest economy have voiced their concerns over the amount of credit being created in the global financial system.
Financial markets are "ripe for major decline" next year, according to a fund manager who forecast the dotcom bubble and 2008's global credit crisis.
Bank boardrooms have to be the first line of defence against future failures and they should not use the excuse of complex financial products to shield them from blame, Alistair Darling will tell the City on Wednesday, according to The Telegraph .