Israel’s Olmert hands in formal resignation

Israeli Prime Minister Ehud Olmert has formally resigned.

He handed a letter of resignation to President Shimon Peres Sunday evening. Earlier he told his Cabinet he was stepping down.

Foreign Minister Tzipi Livni is already meeting with party leaders to set up a new coalition government. Peres is meeting with party leaders to decide on Olmert’s successor, but Livni is the obvious choice. She supports Olmert’s efforts toward a peace accord with the Palestinians. She won a party primary election last week.

Olmert decided to step down because of several corruption cases against him.