NOTW Editor: Hacking Allegations 'Devastating'

The editor of the News Of The World has described the phone hacking allegations as "the most devastating breach of journalistic ethics imaginable" in a private meeting with senior staff.

A source at the meeting told Sky News that Colin Myler also warned employees they face a "difficult period" where they will have to "atone for the wrongs of our predecessors."

Sky News understands the editor of the Sunday tabloid called the heads of department into his office for a mid-morning meeting where he gave the address.

The news comes as the Prime Minister called for a public inquiry into the hacking claims as it emerged the families of the 7/7 bombing victims are alleged to have been targeted.

The source who leaked the details said: "It was a very emotional talk. Colin Myler - like the rest of the staff - was appalled by these allegations."

According to the source, Colin Myler said: "There is a great deal of anger directed towards this newspaper for past actions under a different regime.

"If these allegations are proved, they would amount to the most devastating breach of journalistic ethics imaginable.

"The shocking allegations about the News of the World do not describe the same newspaper as staff recognise today.

"There is an extremely painful period ahead for staff while we get to the bottom of these issues and atone for the wrongs of our predecessors."

The paper has lost several advertisers over the scandal with Ford, Virgin Holidays and Lloyds Banking Group all suspending adverts.