The UK economy remains balanced between recession and recovery, Alistair Darling warned today, saying there are no guarantees the current upturn will continue.
He poured scorn on the abilities of his Tory and Lib Dem opposites to maintain the fragile recovery calling them "Boy George" and the "Karma Chameleon", in a reference to the Eighties pop band.
Tory plans to scale back Government stimulus could suffocate the economy, he said in a speech in Edinburgh today.
"Our economy remains balanced between recession and recovery. Continued recovery is not a given. It depends on making the right decisions now and in the future," he said.
He was also guarded about the global economic recovery, saying it was still not assured and needed nurturing.
"All the more reason to deal urgently and decisively with the problems in Greece. That's why it is so important for the IMF and the euro-group to resolve these problems now. There is no time to lose," he said.
Greece is in talks with the IMF and the European Union on getting a €45bn euro (£39.5bn) bail-out package to prevent a sovereign default.
Standard & Poor's downgraded the credit rating of debt-laden Greece to junk status on Tuesday.
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