Mubarak Stops Short of Resigning, Gives VP Power

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Egyptian President Hosni Mubarak told his nation, Thursday, he would transfer some power to his vice president Omar Suleiman, but still won't step down until after September elections -- countering earlier reports that he was ready to resign immediately.

Mubarak apologized for the attacks on protesters, and vowed to punish those behind the violent acts, but stopped short of stepping down as Egypt's leader.

"I express a commitment to carry on and protect the constitution and the people and transfer power to whomever is elected next September in free and transparent elections," he said.

"I have seen that it is required to delegate the powers and authorities of the president to the vice president, as dictated in the constitution," Mubarak added near the end of his 15-minute address on state TV.

CBN News devoted its entire Newswatch program to coverage of the situation in Egypt, Thursday.  Click play to watch the first segment, with analysis from CBN News reporters Lee Webb, Gary Lane, George Thomas and Jennifer Wishon on Mubarak's speech and the reaction from protestors.

Click here to watch segment two, with analysis of the comments by Egypt's vice president.

Click here to watch segment three, with more on how Mubarak's refusal to resign impacts the Egyptian people and others.

The article is used to transfer powers if the president is unable to carry out his duties "due to any temporary obstacle" and does not mean his resignation.

Protesters in Cairo's central Tahrir Square reacted in disbelief as Mubarak failed again to meet their demands for his resignation. Chants of "Leave! Leave! Leave!" filled the air after his address.

***CBN News International Correspondent George Thomas spoke earlier about a possible transfer of power in Egypt and how it would impact the country. Click play for his comments.

Earlier Thursday, Egypt's military said it was ready to take control of the nation's government, hinting that Mubarak was ready to leave after 30 years in power.

Before Mubarak's speech, Gen. Hassan al-Roueini, military commander for the Cairo area, assured thousands of anti-governments protestors "all your demands will be met today."

"I have no definite information, but that is my expectation that he will step aside," Hossam Badrawy, secretary-general of the ruling National Democratic Party, also said.

Jubilant protestors responded by making victory gestures and shouting "Allahu akbar" or "God is Great."

"The army and the people in one hand. The army and the people are united," one protestor said.

"Mission accomplished," Google executive and protest leader Wael Ghonim tweeted. Thanks to all the brave young Egyptians #Jan25."

Now, protestors remained disillusioned. Negotiations between the government and opposition groups have also made little progress, keeping Egypt's future uncertain.

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