New Zealand Prime Minister John Key has announced his resignation unexpectedly on Monday after eight years in power
and he backed his depute prime mister and minister of financial Bill English to take the helm.
English said he would likely decide overnight whether to stand for the leadership of the ruling centre-right Nation Party at December meeting.
Key told reporters he would stay in parliament long enough for his party to avoid a by-election for his seat.
Key said "it leaves the Cabinet and caucus plenty of time to settle in with a new Prime Minister before heading into election year with a proud record of strong economic management." He added that he is hugely confident that National can and will win the next election.