What his comments reveal is that when - if - the eurozone crisis ends big political questions will replace the big economic problems which are now being confronted.

BBC: Cameron: London under assault by Brussels

What's more, members of the bank's Monetary Policy Committee have made it clear during the past couple of weeks that yet more bond-buying could be in the cards when the current round ends, especially if the euro-zone crisis keeps pressure on the U.K. economy.

WSJ: Alen Mattich: When Frugal Becomes the New Normal

By November 2007, when the narrative ends, it was already clear to Mr Morris that this crisis was much more serious than the last big crunch, the 1998 Russian debt default and the bail-out of Long-Term Capital Management, an American hedge fund, by a group of banks under the Fed's direction.

ECONOMIST: The credit crunch