Austria's Conservative Chancellor Sebastian Kurz resigned on Saturday to save his coalition government from the brink of collapse, as the Greens' junior coalition partner put the request as the only possible condition for keeping the coalition after Kurz became the target of investigation on suspicion of corruption, reports Reuters.

Kurtz's move, which continues to deny the allegations, satisfied the Greens and came just three days before a special session of parliament, at which they were preparing to support a no-confidence motion that would force him to step down. At the same time, his resignation is more formal than real in terms of politics. He plans to remain the leader of his party and lead its parliamentary group, thus retaining control over it.

"That is why I would like to pave the way for an end to a dead end, to prevent chaos and to guarantee stability," Kurz said in a statement to the media. He added that he was proposing that Foreign Minister Alexander Schalenberg, a career diplomat, take over as chancellor, whom the Greens have indicated they approve of.

"I believe this is the right step for the government's future work," Greens leader and Vice Chancellor Werner Kogler said in a statement, adding that he had a "very constructive" working relationship with Schalenberg and would meet with him on Sunday.

Schalenberg, 52, who worked with Kurz when Kurz was foreign minister before becoming chancellor, is unlikely to oppose a man to whom he owes his ministerial career, observers said. Prosecutors are investigating Kurz and nine others on suspicion of breach of trust, corruption and bribery with varying levels of involvement.

/Focus