Pope Benedict's resignation is a supreme act of faith in the living God and in Jesus Christ Who is the only essential Pope of the Church ("Our Supreme Pastor"), and a living out the Gospel. Only the Lord knows, this might give Ratzinger a few more years on this earth to continue his life of great Doctor of the Faith for our age, to present Jesus Christ to our world in the language of the world, so that the world might believe.
This is an act, finally, of evangelization because it is readily understood by masses of worldly people who understand very little of the truth of the Catholic faith. Many might be attracted to the Catholic faith and to Jesus Christ because of this striking act with such patently supernatural motive. Praised be Jesus Christ!
This magnificent Papacy was bound to end. This type of end I much prefer to the alternative (infirmity and death), though that can be another form of powerful witness (as he also admits "I am well aware that this ministry, due to its essential spiritual nature, must be carried out not only with words and deeds, but no less with prayer and suffering"). Regardless, he prefers to live his last days quietly.
Retirement in Spanish is called "Jubilar", which means to rejoice. Sincerely and with the greatest affection and devotion, that is my reaction to this extraordinary announcement. I rejoice. I feel as if I were witnessing a soul going to heaven with great glory. This resignation is in this sense a Jubilee for the Church at the honorable exit of this great and loyal "Co-worker of the Truth". Blessed be God and praised be Jesus Christ forever! "The gates of Hell shall not prevail against [His Church: the Church of Peter]".
One last thought.
Who would be a worthy successor?
I offer four names in order of preference.
Cardinal Marc Ouellet (Canada)
Cardinal Malcolm Ranjith (India)
Cardinal Juan Cipriani (Peru) (The Wikipedia article on him is full of brazen detraction [better in Spanish than in English]).
Cardinal Antonio Canizares (Spain)
THE RESIGNATION ANNOUNCEMENT AT A VATICAN CONSISTORY TODAY (FULL TEXT)
"Dear Brothers,
"I have convoked you to this Consistory, not only for the three canonizations, but also to communicate to you a decision of great importance for the life of the Church. After having repeatedly examined my conscience before God, I have come to the certainty that my strengths, due to an advanced age, are no longer suited to an adequate exercise of the Petrine ministry.
"I am well aware that this ministry, due to its essential spiritual nature, must be carried out not only with words and deeds, but no less with prayer and suffering. However, in today's world, subject to so many rapid changes and shaken by questions of deep relevance for the life of faith, in order to govern the bark of Saint Peter and proclaim the Gospel, both strength of mind and body are necessary, strength which in the last few months, has deteriorated in me to the extent that I have had to recognize my incapacity to adequately fulfill the ministry entrusted to me.
"For this reason, and well aware of the seriousness of this act, with full freedom I declare that I renounce the ministry of Bishop of Rome, Successor of Saint Peter, entrusted to me by the Cardinals on 19 April 2005, in such a way, that as from 28 February 2013, at 20:00 hours, the See of Rome, the See of Saint Peter, will be vacant and a Conclave to elect the new Supreme Pontiff will have to be convoked by those whose competence it is.
"Dear Brothers, I thank you most sincerely for all the love and work with which you have supported me in my ministry and I ask pardon for all my defects. And now, let us entrust the Holy Church to the care of Our Supreme Pastor, Our Lord Jesus Christ, and implore his holy Mother Mary, so that she may assist the Cardinal Fathers with her maternal solicitude, in electing a new Supreme Pontiff. With regard to myself, I wish to also devotedly serve the Holy Church of God in the future through a life dedicated to prayer."