Millennium parting -- Yeltsin finally hands over reins to Putin

Millennium parting -- Yeltsin finally hands over reins to Putin

DADAN UPADHYAYMOSCOW, DEC 31PRESIDENT Boris Yeltsin dropped a bombshell on Friday when he unexpectedly appeared on state-run television ORT and announced that he was resigning ahead of his term to end in June.In a nationally televised address, lasting about 30 minutes, Yeltsin said, he was transferring power to Prime Minister Vladimir Putin and appointing him as acting President.Before his announcement, Yeltsin met with his Prime Minister in the Kremlin. Later Putin presided a meeting of Russia's all powerful Security Council, which took stock of the current political and strategic situation.Yeltsin's press secretary Dmitry Yakushkin told mediapersons, Yeltsin signed a decree on Friday, for presidential elections, scheduled for March 26.

According to Russian constitution, the presidential elections must be held within three months.

Yeltsin's resignation came as a bolt from the blue as he was expected to deliver his New Year's message on national television networks at Friday midnight.

Earlier, the68-year-old Yeltsin had repeatedly declared he would serve out his full term, but poor health and intermittent illnesses, had led to increasing doubts about his ability to complete his second four-year presidential period.

``I am conveying my New Year's greetings to you for the last time today,'' he said in his message to Russians. ``But this is not all I want to say. I am addressing you for the last time as Russia's President. Following a long and painful consideration, I have taken a decision. Today, on the last day of the outgoing century, I am resigning.''

He said apparently choked with emotions, he will ``not remain in power for another six months.''

Russia needed to go into the new century with new political leaders, Yeltsin added.

Referring to Putin he said, ``...to cling to power for another six months when the country has a strong person worthy of becoming President why should I stand in his way? Why should I wait? It's not in my character.''In the past months, Putin had publicly declaredthat he would participate in presidential elections and promised to continue democratic and market reforms.

In a highly unusual show of admission of his mistakes and failure during about eight years of his presidency, Yeltsin asked for forgiveness from the people, for having failed to justify their hopes.

``I want to beg forgiveness for your dreams that never came true,'' he said, wiping his left eye. ``And also I would like to beg forgiveness not to have justified your hopes.''

Political observers said Yeltsin's sudden resignation will undoubtedly intensify the ongoing power struggle for the top slot in the Kremlin.Communist leader Gennady Zyuganov, former prime minister and leader of Fatherland-All Russia bloc Yevgenny Primakov and liberal Yabloko leader Grigory Yavlinsky, have already announced their candidacy for the presidential race.

But in the wake of a tough military campaign against Chechen terrorists, Putin's rating has soared to 60 per cent, leaving far behind his rivals.The recentparliamentary elections also reinforced Putin's popularity when the Kremlin-backed Unity Party got the second place in the terms of votes, showing that Putin, a former spymaster, was the people's favourite too.

Meanwhile, the US on Friday called the resignation of Yeltsin dramatic but not a complete surprise. Clinton was notified before dawn by Sandy Berger, his assistant for national security affairs.