The final push to a full-blown financial crisis in Japan is already in motion.

FORBES: The sinking yen

Japan is one step closer to a full-blown financial crisis, after Tokyo shares fell to 18-year lows Feb. 5 and are expected extend losses for the fourth straight day Feb. 6.

FORBES: Magazine Article

Even with greed, highly paid aggressive bankers, credit-default swaps, and those geeky quants, we would almost certainly have muddled through the fallout from the bursting of the housing bubble without a full-blown financial crisis had there not been millions of mortgages made to people with chequered credit and no down-payments.

ECONOMIST: An alternative history lesson

It is hoped that this will address the so-called "too big to fail" problem, that pushing these enormous firms into a full-blown and complex bankruptcy process during the height of the financial crisis - as happened with Lehman Brothers - could destroy the entire financial system.

BBC: Q&A: US Senate's banking regulation bill

In doing so, he essentially pledged the financial resources of the ECB to help stave-off a full, blown-out banking crisis in Europe.

FORBES: Spain Reminds Us That The Worst Is Yet To Come In Europe