A letter of resignation from President Ezer Weizman of Israel was officially presented to the speaker of the Knesset, Mr Avraham Burg, at the parliament buildings in Jerusalem late yesterday, by the director general of the President's office, Mr Arieh Shumer.
Under Israeli law, Mr Weizman's resignation will come into effect after 48 hours and Mr Burg will take over as interim president until Mr Weizman's successor is elected by parliament on July 31st.
Mr Weizman (76) took the decision to go after resisting intense pressure for his resignation from politicians and the press. His fall from grace came when it was revealed he had received $450,000 as "gifts" from a French businessman, Mr Edouard Saroussi, in the 1980s, while he was a member of the Knesset and a cabinet minister.
The favourite to succeed him is the former prime minister and Nobel peace prize winner, Mr Shimon Peres, whose only rival is the right-wing deputy, Mr Moshe Katsav.