U.K. Prime Minister Boris Johnson was known as a "Teflon" leader for his ability to withstand scandal after scandal.

But after surviving "Partygate'' and a slew of other missteps, Johnson finally met a scandal he couldn't outrun.

Johnson said on Thursday he would step down as prime minister after more than 50 of his own government officials resigned. But he's also pledged to stay on until a new Conservative leader is chosen.

Today, the New Statesman's Rachel Cunliffe explains what finally led to Johnson's downfall, what his resignation speech really means and what it all says about the state of British democracy.