Thai prime minister to step aside

[After many protests by the people, and after the election where people protested by using, "No Vote"..(abstaining to vote)....Finally...]

Thailand's embattled Prime Minister Thaksin Shinawatra says he is stepping down after his party's disappointing showing in Sunday's snap election.

In an appearance on national television, he said he would remain a caretaker prime minister until a new premier was chosen.

The move comes after the poll failed to quell discontent over his premiership.

Opposition claims of corruption and abuse of power have thrown Thailand into a month-long political crisis.

Mr Thaksin said he would not accept the post of prime minister when the post-election parliament convenes.

"I am sorry that I will not accept the premier post," he told the news conference.

But he said he would remain a caretaker prime minister "until the selection process for the next prime minister is complete."

It is not yet known when parliament will convene as by-elections in 38 constituencies must be held after candidates failed to get the 20% of votes needed to claim victory.

Large protest vote

Mr Thaksin said he had made the decision out of respect for the country's revered King Bhumibol Adulyadej who marks his 60th anniversary on the throne this year.

"I want all Thais to re-unite," he said.

"I beg all Thais to sacrifice for the king," he said, adding that he apologised to his 16 million supporters that he would not continue as prime minister.

Mr Thaksin claimed an election victory on Monday after saying his Thai Rak Thai party had won 57% of the vote.

Before polling he had said he would step down if he failed to get more than half of the votes.

But with opposition parties boycotting the poll and signs of a large protest vote, Mr Thaksin failed to shake off continued calls for his resignation.