'We must never lower our guard' Rehn says, 5 years after Lehman

This weekend marks the five-year anniversary of the collapse of Lehman Brothers.

The collapse of the investment bank was the largest bankruptcy in corporate history.

Its failure prompted the global credit crunch which eventually gave way to the global financial crisis.

The EU's Economics Commissioner Olli Rehn said the world's policymakers must make sure there isn't a repeat.

"In the coming nine months, the programmes in Ireland, Spain and Portugal are due to conclude. As you know, we also have important decisions to take concerning Greece," he told the assembled media.

"I can tell you that there will be no single rule or uniform pattern to be followed here. We will need to look very carefully at what the optimal solution will be in each case to ensure a successful exit."

"We must never lower our guard," he said in his speech's conclusion.

"Policymakers in national capitals, at the European level and in global forums like G20 and the IMF, must remian vigilant so that the great finanical crisis of September 2008 remains where it belongs - in the history books."