Spotlight: European Parliament chief to return to German politics

European Parliament President Martin Schulz announced Thursday that he would not seek a third term, but instead return to national politics in Germany.

"I will not run for a third term as president of the European Parliament. Next year, I will run for the German Bundestag as the head of the SPD (Social Democratic Party) list in North Rhine-Westphalia," Schulz said in a recorded video statement.

Despite leaving the European Parliament, Schulz said he would remain engaged in the European project in the future, hailing European integration as "one of civilization's most successful projects."

"My commitment to the European project is unwavering," he said, specifying that from now now he would be fighting for Europe at the national level. "My values do not change. I will continue to do my utmost to improve people's everyday life, to narrow inequalities within and between societies. Only by doing this will it be possible to regain the lost trust," he said.

Schulz has been a Member of European Parliament (MEP) since 1994. He became president of the European Parliament in 2012, and was re-elected in 2014.

"Throughout my time in the European Parliament whether as a MEP, as head of the Socialist Group or as President, I have striven to strengthen the credibility and visibility of European politics and the influence of the directly-elected European Parliament," said Schulz in the emotional statement, reaffirming he would carry on his function with "the same strength and conviction" until the end of his mandate.

The announcement did not come a surprise as speculation about Schulz's political future had been growing over the last months.

Manfred Weber, president of the European People's Party group, the largest party group in the parliament, told reporters after Schulz's announcement that his group would nominate a candidate to succeed Schulz.

According to the German news agency DPA, Schulz is seen as a candidate for the position of foreign minister, succeeding his party ally Frank-Walter Steinmeier.

But he could also be nominated to lead the SPD into the Bundestag elections to challenge Angela Merkel's bid for a fourth term as German chancellor.

The SPD is currently a junior partner of the coalition government led by Merkel.

Born on Dec. 20, 1955, Schulz was a bookshop proprietor. He started his political career in 1974 by joining the SPD. Endit