German President Christian Wulff resigned amid home loan scandal

Christian Wulff, Germany’s president, has announced his resignation, after prosecutors called for his immunity to be lifted.

Christian Wulff, an ally of Chancellor Angela Merkel is embroiled in a scandal over a home loan that he accepted when he was premier of Lower Saxony.

Chancellor Angela Merkel cancelled a visit to Italy on Friday to deal with the crisis, and she will give a statement shortly.

According to German media, the crisis is unprecedented in post-war Germany.

The affair will be no more than a headache for Chancellor Merkel, whose approval rating is high among the German people.

However, it comes at a time when Angela Merkel does not need any new headaches, as Germany wrestles with the Eurozone debt crisis.