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Watson tells Corbyn to quit but will not challenge him

Deputy Labour leader Tom Watson has told press that Mr Corbyn would not even discuss the leadership with his deputy, and that he will not be resigning.

Mr Watson called the situation a "tragedy".

It is understood by ITV News that Tom Watson will not challenge Jeremy Corbyn in a leadership contest.

McDonnell: Corbyn has the fight in him to stay as leader

Jeremy Corbyn Credit: PA

Shadow chancellor John McDonnell has said that Jeremy Corbyn has the fight in him to continue as Labour leader.

The MP for Hayes and Harlington told ITV News correspondent Romilly Weeks that Mr Corbyn is "well up for it and he's enjoying it".

Earlier on Wednesday ITV News' deputy political editor Chris Ship reported that Jeremy Corbyn wants to stand down but is being urged to stay on by his closest aides.

MPs 'may form a new party' if Corbyn stays

A Labour MEP has warned that the party could split if Mr Corbyn does not step down.

Mary Honeyball, who is MEP for the Labour Party in London, said: "Jeremy Corbyn's corrosive leadership has brought the Labour Party close to the edge, and tragically the party I know and love is now in imminent danger of imploding all together."

In an article in the New Statesman, she added: "There is a real possibility of Corbyn getting on the ballot paper and being re-elected. At that stage 200 MPs may form a new party.

"And if need be I will join them."

Jeremy Corbyn 'wants out'

Jeremy Corbyn wants to leave, but he feels pressured to stay because of people in his team, according to our Deputy Political Editor Chris Ship.

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Labour MEPs call on Jeremy Corbyn to quit

In the latest of a string of resignations and public calls to resign, a letter from Labour MEPs to Jeremy Corbyn has been published to social media.

The letter says that they have "always striven to have a loyal and constructive relationship with our party leader", but that they have "very serious concerns" in light of the party's defeat during the referendum.

"It is with a heavy heart," the letter says, "that we urge you, for the sake of the Labour Party and for the people in our country who need a Labour government, to reconsider your position as Labour leader."

Big unions still support Jeremy Corbyn as leader

Two of Britain's biggest unions are expected to publicly reiterate their support for Jeremy Corbyn, according to our Political Editor Robert Peston.

They will also urge Labour MPs to "behave as effective opposition".

Ed Miliband calls on Corbyn to resign 'untenable' position

Ed Miliband (right) has urged Jeremy Corbyn to resign. Credit: PA

Former Labour leader Ed Miliband has called on successor Jeremy Corbyn to quit, saying his position is "untenable".

Mr Miliband said he had supported Mr Corbyn "all the way along", but now urged him to reflect on what is "the right thing for the country".

He told BBC Radio 4's The World At One programme: "I have reluctantly reached the conclusion that his position is untenable."

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