Financial crises can occur in anywhere. Some in the developed world have long had the view that financial crises only in less economically developed countries. The US-made credit crisis, Euro currency crisis, Greek debt crisis and others in the past few years have painfully shown that they are wrong. History shows that the developed world has had it equal share of financial crises since the 1800s as the graphic shows below:

Source:  Public debt – a potential crisis in the making?, PSG Alphen Asset Management

It is interesting to note that France and Norway have had the most number of banking crises.Germany has had 6 banking crises since the 1800s and 2 years of hyperinflation. The  hyperinflation of the 1920s was one of causes that led to the rise of Nazi leader Adolf Hitler in Germany.