The collapse of Lehman Brothers, a systemically important firm for all major financial centres, affected different countries to differing degrees.
"In Europe, countries were hit across the board. It was reasonably uniform in terms of Lehman exposure. However, some countries, such as Spain, were, because of the nature of their distribution styles, less affected. The domestic banks in Spain were mainly issuing off their own programmes," says Albert Plattner, managing director, Europe, Middle East