Won't seek re-election as German Chancellor: Angela Merkel

German Chancellor Angela Merkel on Monday announced that she would not seek re-election when her term expires in 2021.

Merkel, who has been Chancellor since 2005, made the announcement during a news conference in Berlin.

"It is time today for me to start a new chapter. This fourth term is my last term as Chancellor of the Federal Republic of Germany. In the next Bundestag election in 2021, I will not run again as Chancellor. I will not run for the German Bundestag any more, and I do not want any other political office," CNN quoted Merkel, as saying.

Earlier in the day, Merkel had announced that she would step down as the leader of her centre-right Christian Democratic Union (CDU) party after 18 long years.