German President resigns over home loan scandal

GERMAN President Christian Wulff resigned this morning after state prosecutors asked parliament to remove his legal immunity over accusations that he accepted favours.

He has been hit by a scandal over a home loan that he accepted while leading the state of Lower Saxony.

“The developments of the past few days and weeks have shown that (the German people’s) trust and thus my effectiveness have been seriously damaged,” Wulff said in a brief statement.

“For this reason it is no longer possible for me to exercise the office of president at home and abroad as required.”

The resignation deals a blow to Chancellor Angela Merkel, who selected him for the largely ceremonial post of head of state.

Mrs Merkel fought to get Mr Wulff made president in 2010.