Salmond resigns after failed bid for Scottish independence

Having conceded defeat after Scotland's historic referendum on independence, Scottish nationalist Alex Salmond has resigned as leader of his party, and says he will

quit as first Minister of his country.

"After the membership ballot I will stand down as first minister to allow the new leader to be elected," Salmond told reporters in Edinburgh.

Salmond said he would not accept the nomination as leader of the Scottish National Party at an annual conference in November and that he would then resign as First Minister.

"For me as leader my time is nearly over but for Scotland the campaign continues and the dream will never die," he said.