Israel's Olmert hands in formal resignation

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Source: AP

JERUSALEM (AP) — Prime Minister Ehud Olmert, crippled by a series of corruption investigations, announced he would resign Sunday, clearing the way for his foreign minister to try to succeed him as Israel's next leader.

The prime minister's office said Olmert would submit an official letter of resignation to President Shimon Peres later Sunday, freeing the president to formally tap Livni to try to put together a new government. Weeks ago, Olmert promised to step down after his governing Kadima Party elected a new chief to replace him.

Livni, a rival of Olmert's, won that race last week by a narrow margin, but that victory did not assure her the premiership. Peres must first assign her the task of trying to cobble together a government, giving her six weeks to forge a coalition. Should she fail, parliamentary elections would be called for early 2009, a year and a half ahead of schedule.

Olmert is expected to stay on as caretaker prime minister until a successor is in place.

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