The shadow chancellor’s attack follows Cameron’s warning at the G8 summit in Chicago to the Greek electorate, where he said: “We now have to send a very clear message to people in Greece: there is a choice – you can either vote to stay in the euro, with all the commitments you’ve made, or if you vote another way, you’re effectively voting to leave.”
Speaking to BBC Radio 4’s Today programme, Balls criticised Cameron’s stance, and added that the G8 summit’s failure to come up with a clear plan would prove disastrous.
“I don’t think David Cameron’s posturing helps at all, I think it just makes it worse,” Balls said. “Spain and Italy are huge. Our country, our companies, are exposed to them. There is no plan to stop contagion to Spain and Italy. If that happens it will be absolutely catastrophic for Britain, Europe and the world and we have come out of a summit with no plan and Britain still supporting the [Angela] Merkel view that we don’t need a plan.”
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