global markets should be " quite robust enough to do it no lasting damage " , he said . " i would stress that these circumstances are unique to ing and should not apply to other funds operating in europe . " barings confronted losses of at least 600m in contracts on british stock exchanges in singapore , osaka and tokyo , he said , but ' further unquantifiable loses ' were expected .
The banking firm Barings collapsed due to speculations made by Nick Leeson.