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Canadas Prime Minister Justin Trudeau announces decision to step down [Video]

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Canadian Economy and Markets

Canada’s Justin Trudeau on Monday said he would step down from the helm of the ruling Liberal Party, but will stay on as prime minister until a new leader is selected ahead of general elections due by late October.

“I intend to resign as party leader, as prime minister after the party selects its next leader through a robust nationwide, competitive process,” he said during a Monday news conference. “Last night, I asked the president of the Liberal Party to begin that process. This country deserves a real choice in the next election, and it has become clear to me that if I’m having to fight internal battles, I cannot be the best option in that election.”

He added that the Canadian Parliament will be prorogued — suspending its activity — until March 24, when a confidence vote will be carried out.

“Parliament has been entirely seized by obstruction and …

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