Standing at the edge of the abyss: RBA's Guy Debelle ten years after Lehman Brothers collapse

The world was facing a possible rerun of the Great Depression of the 1930s this time ten years ago, when the Lehman Brothers investment bank collapsed, triggering the global financial crisis. 

Global markets froze, banks were too afraid to lend to each other and central banks slashed interest rates heralding trillions of dollars of economic stimulus . 

Reserve Bank deputy governor Guy Debelle tells ABC's Peter Ryan he recalls staring into an abyss of unknowns as the crisis unfolded. 

Listen to Guy Debelle's reflections here