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Barclays boss urged to quit

Barclays boss Bob Diamond is facing calls to quit as he said all those responsible for the rate-rigging scandal should pay the price.

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Boris Johnson: 'Banks need to come clean'

Mayor of London Boris Johnson has said today the attempted manipulation of financial markets by banks was a "very, very dodgy practice indeed" and urged all banks "to come clean".

Boris Johnson says banking scandal shows 'very dodgy practices' Credit: Reuters/Stephen Hird

Asked by the BBC if Mr Diamond should resign, he responded: "It's not for me to say who is culpable in this but plainly banks have been forthcoming in getting their dirty linen out there. I think that the whole banking industry now needs to come clean on what's been going on."

He added: "I think that if there has been criminal activities then clearly people need to pay the price and I think to manipulate interest rates for gain looks to me like a very, very dodgy practice indeed."

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