Outgoing Greek Prime Minister Costas Karamanlis on Sunday said he was stepping down as conservative party leader after a resonating electoral defeat at the hands of the opposition socialists.
"The only responsible and honest course of action for me is one: I assume responsibility for the result and will launch procedures for the election of a new party leader," an emotional Karamanlis said in a televised address.
An emergency party congress will be held in a month's time, he said.
"It is self-evident that I will not be a candidate," Karamanlis said, adding that he intends to remain with the party and support his successor.
New Democracy turned out one of its worst showings in its 35-year history on Sunday, garnering a mere 35.06 percent of the vote compared to 43.59 percent won by the victorious socialists of George Papandreou according to early results from one in two polling centres.
INTERNATIONAL NEWS
Greek PM quits party leadership
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