New Zealand's Prime Minister John Key resigns

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In a huge surprise New Zealand's long-standing prime minister and leader of the National party, John Key stepped down frm his post. Key declared his resignation in Wellington to th public after informing the cabinet. 

New Delhi : His resignation will be effective from 12th December.  The National MPs will meet soon to select their new leader. 

John Key is widely regarded as one of the most popular prime ministers in New Zealand’s history. He was first elected in 2008, and recently marked his 10-year anniversary as leader of the National party.

Key said he would vote for his deputy prime minister, Bill English, if he put his name forward. English briefly led the party to its worst-ever electoral defeat in the 2002 election, but has since served as a successful finance minister.

He said stepping down was the hardest decision he had ever had to make, but there was “no way” he could have served a full fourth term.