Germany's President Christian Wulff tenders resignation

February 17, 2012

German President Christian Wulff stepped down from his position following the revelation of a home loan scandal he was involved with back during his days as the premier of Lower Saxony, the BBC News reports.

"The developments of the past few days and weeks have shown that this trust and therefore confidence in my ability to serve have been adversely affected," Wulff said in a televised announcement, according to CNN. "For this reason, it is no longer possible for me to continue in my role as president."

Chancellor Angela Merkel, who supported Wulff's presidential bid, is taking the news pretty hard. The BBC reports that she canceled a trip to Italy to deal with the situation, rather than forging ahead and just calling Germany to handle the crisis. She also told reporters that Wulff claims he handled the situation correctly and according to the law.

Wulff took the job as President less than two years ago. The position is more of a ceremonial role to give Germans a moral figurehead to look up to, so his involvement in any scandal is quite the opposite of the job description.

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