Former Chancellor: Manipulation of Libor rates 'indefensible'

Alistair Darling Credit: Reuters/Toby Melville

Former Chancellor Alistair Darling told Channel 4 News tonight that it would have been "indefensible" for anyone in his Department to call for the manipulation of Libor rates.

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Deep division over bank inquiry

Labour leader Ed Miliband has stepped up demands for a full judicial inquiry into the banking scandal, warning the public is in no mood for an "establishment cover-up". The Government wants a rapid, cross-party inquiry by MPs and peers.