New Zealand PM John Key announces surprise resignation

New Zealand’s hugely popular prime minister John Key has unexpectedly announced his intention to resign from his position next week. English, considered the man behind the success of the Nationalist Party, gained public favor due to his careful ministrations of New Zealand’s books and coffers.

As talk of Key’s decision swirled around social media, the down-to earth politician once voted the leader most New Zealanders would love to have a beer with – said he would not hang on to power for power’s sake.

She also underlined her credentials as a woman, saying National had been led by men “for quite some time” and the party needed someone who could appeal to both men and women and all ethnicities.

Financial markets have quickly put the shock resignation of Prime Minister behind them and want a peaceful, business-as-usual transition to a new government leadership team.

Coleman, in a thinly-veiled shot at English, said there was a “significant appetite” for a “change from the status quo”.

“It’s Bill English’s to lose in the sense that there’s such a strong endorsement and essentially direction from Key that it’s very hard for the caucus to outright repudiate the prime minister’s preference”, said Jon Johansson, a political scientist at Wellington’s Victoria University. English has successfully served as the finance minister despite leading his party to an electoral debacle in the 2002 election.

On Tuesday, MPs Judith Collins and Jonathan Coleman threw their hats into the ring to challenge deputy prime minister Bill English.

He won his third term in office in September 2014.

Australian Prime Minister Malcolm Turnbull said “John Key is one of the most outstanding national leaders in the world today”. Last month, the destroyer USS Sampson became the first United States warship to visit New Zealand in nearly forty years.

Part of Key’s popularity is his careful handling of the global financial crisis and rebuilding of the country after a 2011 quake there.

Key felt he was “going out on top”, and wanted to spend more time with his wife Bronagh and children Stephanie and Max.

“Wait and see”, Mr English told reporters who questioned whether he planned to stand as a candidate as he entered the parliament building in Wellington ahead of the Caucus meeting.

New Zealand is facing a leadership contest following the surprise resignation of Prime Minister John Key that will pit his deputy, a former party leader, against at least two other prominent members.

But he said the role came with costs.

“Throughout these years I have given everything I could to this job that I cherish, and this country that I love”, he said in a statement.