Armenia's Prime Minister Serzh Sarkisian stepped down on Monday after ten days of unprecedented street protests against his attempt to extend his decade-long rule.

“[Opposition leader] Nikol Pashinian was right,” he said in a written address to the nation. “I was mistaken. There are several solutions to the existing situation but I will not opt for any of them. They are not to my liking.”

“I am resigning from the post of prime minister, leader of the country,” he declared.

“The movement in the streets is against my tenure. I am fulfilling your demand. I wish our country peace, harmony and common sense,” he said.

The announcement sparked jubilant scenes in the streets of Yerevan filled with hundreds of thousands of people demanding his resignation.

It was not immediately clear whether Sarkisian’s exit will be followed by fresh parliamentary elections.