New Zealand Prime Minister John Key announces surprise resignation

New Zealand Prime Minister John Key unexpectedly announced his resignation on Monday, saying it was the “right time” to leave politics after more than eight years in power.

Mr. Key said he had no immediate future plans, but told reporters he would stay in Parliament long enough to avoid a by-election for his seat.

“There is no way I could have served out a full fourth term,” he said at his weekly press conference in Wellington, citing family reasons for his departure.

I think in reality if I served six months or a full-year, I would have inevitably had to look down the barrel of a camera and say ‘I will serve a full three years’. I would therefore have mislead the public and that is not the way of operating, he said.