President Hosni Mubarak speaking on Egyptian state television on Tuesday.(Al-Masriya TV)

Speaking on state television a few moments ago, embattled Egyptian President Hosni Mubarak said he would not run for reelection, effectively ending his 30-year rule over Egypt. “In the few months remaining in my current term, I will work towards ensuring the measures and procedures that will guarantee the peaceful transition of power,” he said. Apparently nudged by withdrawal of American support, Mubarak delivered his speech, which was broadcast and translated on Al Jazeera English, as millions of Egyptians thronged Tahrir Square and the streets of Cairo.

Referring to himself in the third person, challenging his political opponents, and declaring that he “will die on Egyptian soil,” Mubarak defied calls for his resignation and ouster, but made repeated attempts to indicate that a transition of power would soon be under way. Will this be enough to mollify the protesters?

Crisis in Cairo [Tablet Magazine]