Egypt celebrates as Mubarak quits office, Switzerland orders freeze on family assets

Hosni Mubarak, the Egyptian president, has resigned from his post, handing over power to the armed forces.

Omar Suleiman, the vice-president, announced in a televised address that the president was "waiving" his office, and had handed over authority to the Supreme Council of the Armed Forces.

Suleiman's short statement was received with a roar of approval and by celebratory chanting and flag-waving from a crowd of hundreds of thousands in Cairo's Tahrir Square, as well by pro-democracy campaigners who attended protests across the country on Friday.

The crowd in Tahrir chanted "We have brought down the regime", while many were seen crying, cheering and embracing one another.

Mohamed ElBaradei, an opposition leader, hailed the moment as being "a dream come true" while speaking to Al Jazeera.

"I can't tell you how every Egyptian feels today," he said. "We have been able to restore our humanity ... to be free and independent".

He reiterated that Egypt now needs to return to stability, and proposed that a transition government be put in place for the next year. The government, he said, would include figures from the army, from the opposition and from other circles.

"We need to go on ... our priority is to make sure the country is restored as a socially cohesive, economically vibrant and ... democratic country," he said.

Ayman Nour, another opposition figure and a former president, told journalists that he would consider running for the presidency if there was concensus on his candidacy. He called Friday "the greatest day in Egyptian history".

"This nation has been born again. These people have been born again, and this is a new Egypt," he said.

In Alexandria, Egypt's second city, the situation was described as an "explosion of emotion". As  hundreds of thousands were celebrating in the streets.

Responding to the announcement, Catherine Ashton, the European Union's foreign policy chief, told world media that the 27-nation bloc "respect[ed] the decision that President Mubarak has taken".

She said the EU wanted to "pay tribute to the dignity of" Egyptians' behaviour at this time, and that Europe was ready to offer its assistance in this transition period in the fields of elections, building civil society and other areas.

'Farewell Friday'

Suleiman's announcement came after hundreds of thousands of Egyptians took the streets for the 18th consecutive day, marching on presidential palaces, state television buildings and other government installations.

Pro-democracy activists had dubbed the day 'Farewell Friday', and had called for "millions" to turn out and demand that Mubarak resign.

Hundreds of thousands were seen to have gathered at Cairo's Tahrir Square, which has been the focal point of protests, chanting slogans against the government and expressing their dissatisfaction with Mubarak's statement on Thursday night, when he had reiterated his vow to complete his term.

Hundreds of thousands were also seen demonstrating in Alexandria, where several thousand also marched to a presidential palace there.

Protests were also reported from the cities of Mansoura, Mahalla, Suez, Tanta and Ismailia with thousands in attendance.

Violence was reported in the north Sinai town of el-Arish, where protesters attempted to storm a police station. At least one person was killed, and 20 wounded in that attack, our correspondent said.

Earlier in the day, protesters had laid siege to the state television's offices in Cairo, accusing the broadcaster of being a Mubarak mouthpiece. The military stood aside and allowed them to surround the building, which had been heavily defended in previous days.

Tens of thousands also gathered outside Mubarak's Heliopolis presidential palace, where our correspondent reported that there was a strong military presence throughout the day, but no indication that the army intended to crack down on protesters.

In another development, the Swiss government has ordered an immediate freeze on all of Mubarak's family assets held in Swiss banks.

Army statement

In a statement read out on state television at midday on Friday, the military announced that it would lift a 30-year-old emergency law but only "as soon as the current circumstances end".

The military said it would also guarantee changes to the constitution as well as a free and fair election, and it called for normal business activity to resume.