3 Oct 2008

Bloomberg wants third term as New York mayor

7:26 am on 3 October 2008

New York Mayor Michael Bloomberg announced on Thursday he will seek changes in the city's term limits law so he can run for a third term in 2009.

The former Wall Street trader and self-made billionaire believes that the financial crisis demands a leader of his business acumen.

Voters imposed limits of two four-year terms on elected city officials in 1993 and reaffirmed the vote in 1996.

But Mr Bloomberg will ask the city council to extend the limits to a third term.