British Prime Minister Tony Blair has announced he intends to step down as prime minister and as leader of the Labour Party on 27 June.
Mr Blair, joined by his wife Cherie, made the formal announcement at the Trimdon Labour Club in his Sedgefield constituency.
In a widely anticipated speech, Mr Blair finally confirmed the worst kept secret in British politics and ended months of speculation about the timetable for his exit.
In the meantime the Labour party will select a new leader, which will almost certainly be Chancellor of the Exchequer Gordon Brown.
In an emotional speech, Mr Blair said his political journey had begun when he announced he was standing for the Labour leadership.
He recounted the high and the low points of his decade-long premiership, including the invasion of Iraq, powersharing in Northern Ireland, the fight against climate change and terrorism.
The Prime Minister said that he recognised that not everything that he had done had succeeded but said that he had always done what he thought was right for the country.
He said that ten years was long enough and that 'sometimes you conquer the pull of power by setting it down'.
Decade in power
Mr Blair first announced his plans to quit at a cabinet meeting this morning.
His likely successor, Chancellor Gordon Brown, tribute to the Prime Minister at the meeting, which lasted around 15 minutes.
Taoiseach Bertie Ahern said Mr Blair was leaving a 'priceless legacy' of peace and agreement in Ireland, and that he leaves office with an honoured place in Irish history assured.
Mr Ahern said he was privileged to have worked side by side with the British Prime Minister on the peace process and said that the two governments had forged an unprecedented partnership.
The Taoiseach said he had been a friend to Ireland, and said that he was privileged also to count him as a friend of his.
Sinn Féin President Gerry Adams praised Mr Blair's significant and crucial contribution to the Irish Peace Process and said the restoration of the political institutions would not have been possible without him.
Northern Ireland First Minster Ian Paisley said that while there were many issues 'on which we did not see eye to eye', he said that Mr Blair's concerted efforts helped in ultimately securing devolution in Northern Ireland.
And former US Secretary of State Colin Powell praised Mr Blair's 'enormous impact on world politics', and highlighted the impact he had on the 'special relationship' between the US and Britain.
