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Hello and welcome to The Rest Is Money with me, Steph McGovern.

I'm with me, Robert Peston.

So we have got something a bit different for you this week, haven't we?

Because we are going to do a bit of a mini-series on what our Robert describes as the most frightening financial event in recent history.

And this is all to do with the UK's government bond crisis of 2022.

That is a pretty scary statement, Robert.

What's your vibe?

Because, I mean, I work with you on the 2008 banking crisis and that felt scary. But you think what was happening then, 2022 to now,

has been scarier, don't you?

I do in a UK context, obviously the 2007-8 global banking crisis was, you know, in a global

context, the worst financial crisis since at least the 1930s.

But I was more anxious in the autumn of 2022. And the reason for that is because at the heart

of the crisis were decisions made by the government and also actions taken by the Bank of England.

...