Pope Benedict XVI to Resign for Health Reasons

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Feb. 11 (Bloomberg) -- Pope Benedict XVI, saying he no longer has the strength to lead the world’s 1 billion Catholics said that he will resign from the papacy at the end of the month, the first such abdication in almost 600 years. Pope Benedict, the 265th leader of the Roman Catholic Church, said his resignation would take effect at 8 p.m. on Feb 28. Tom Keene and Scarlet Fu report on Bloomberg Television's "Surveillance." (Source: Bloomberg)