23:58

Alistair Darling, the former Chancellor of the Exchequer, told bankers assembled in the Mansion House tonight that the situation in Greece could have repercussions for the UK’s continued membership of the European Union.

“The longer this goes on, [given] the signals it sends to the world about the eurozone and the European Union ...the more risk is the contagion will spread” on both political and economic terms, said Darling, adding:

“People might think this isn’t a great success ... and we may be tempted when we have our referendum ... to say that we may want to leave”.

Speaking at the annual dinner of the British Bankers’ Association, he urged campaigners in the UK’s referendum not to dwell on migration.

Darling was a key figure in the Scottish referendum but stood down as an MP at the general election. He urged business leaders to speak out Europe; they were slow to do so in the Scottish referendum.

And ahead of the budget on Wednesday where there is speculation that George Osborne may signal a review of the bank levy, Darling told the bankers: