An announcement from the Office of the Presidency moments ago declared that Hosni Mubarak has stepped down and is no longer President, turning over power to the military.

On hearing the news, crowds erupted in jubilant cheers.

Mubarak’s departure from the Presidency, a role he’s held for 30 years, means a whole new future for Egypt, the mos populous nation in the Middle East.

We may expect some continued political turmoil, and eventually, a stable, democratic government in this most important nation in the region. However, the road to stability is often fraught with dangers and pitfalls. Egyptians, like the Russians, enjoy having strong leaders who stay in power for long periods.

Dr. Mohamed El Baradei

Dr. Mohamed El Baradei

Who will be the next president? Only time will tell. Our belief is that Dr. Mohamed El-Baradei will rise by popular acclaim to serve in a leadership role, and possibly become President. This would be a momentous, but positive political choice. He’s certainly the nation’s best choice for a stable future.

Mohamed el Baradei is an Egyptian-born lawyer who headed the United Nations’ IAEA or International Atomic Energy Agency from 1997 to 2009. His tempered voice in diplomatic negotiations over Iran’s plans to become a nuclear power earned him the Nobel Peace Prize in 2005. El Baradei is the strongest potential contender for the Egyptian presidency in 2011 now that Mubarak has resigned.

On this historic day in a nation that has spanned the history of human civilization, millions cheer this exceptional news: Mubarak is gone.