The shadow chancellor Ed Balls has said that proposals to jail reckless bankers "is the way forward."
Mr Balls added: "The challenge now is to make sure we don't have a repeat of these issues in the future. The Government needs to act now."
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PM spokesman's comments come following reports that the EU is secretly drawing up plans for greater military cooperation across the EU.
The Labour politicians put their alleged differences aside to jointly highlight how remaining in the EU could help fight climate change.