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Pop Benedict XVI resigning on February 28

Vatican City: Pope Benedict XVI has announced that he will resign on February 28, the first pontiff to do so in nearly 600 years.

The 85-year-old pope announced his decision in Latin during a meeting of Vatican cardinals on Monday morning.

“However, in today’s world, subject to so many rapid changes and shaken by questions of deep relevance for the life of faith, in order to govern the bark of St Peter and proclaim the Gospel, both strength of mind and body are necessary, strengths which in the last few months, has deteriorated in me to the extent that I have had to recognise my incapacity to adequately the ministry entrusted to me.”

The move sets the stage for the Vatican to hold a conclave to elect a new pope by mid-March, since the traditional mourning time that would follow the death of a pope doesn’t have to be observed. There are several papal contenders in the wings, but no obvious front-runner as was the case when Benedict was elected pontiff in 2005 after the death of Pope John Paul II

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