As reported by Russia’s Tass, Prime Minister Dmitry Medvedev submitted his resignation to President Vladimir Putin today. That’s seen as a move to make way for Putin’s changes in the constitution, to increase the powers of both the prime minster and the cabinet.
The news came after Putin’s annual state of the nation address earlier, where he proposed constitutional amendments. He said, the changes would “increase the role and significance of the country’s parliament … of parliamentary parties, and the independence and responsibility of the prime minister.”
The moves reignites speculations on Putin’s plan after his current presidential term ends in 2024. One possibility is that he would shift power to the parliament and assume an enhanced role as prime minister afterwards.
Swiss Franc jumps broadly on the news, taking Euro higher.
