17 February 2012 Last updated at 05:08 ET
LIVE: German President statement amid loan scandal
German President Christian Wulff has announced his resignation, after prosecutors called for his immunity to be lifted.
An ally of Chancellor Angela Merkel, Mr Wulff is embroiled in a scandal over a home loan that he accepted when he was premier of Lower Saxony.
Mrs Merkel cancelled a visit to Italy on Friday to deal with the crisis, and she will give a statement shortly.
German media say the crisis is unprecedented in post-war Germany.
The BBC's Berlin correspondent Stephen Evans says the affair will be no more than a headache for Chancellor Merkel, whose approval rating is high among the German people.
However, it comes at a time when she does not need any new headaches, as Germany wrestles with the eurozone debt crisis, our correspondent adds.
Article Source : BBC News
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