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Mubarak says to stay in power until Sept. election

Mubarak says to stay in power until Sept. election (by Christopher Noble)

SAN FRANCISCO (MarketWatch) - Egyptian President Hosni Mubarak said Thursday he would transfer power to a successor after a fair and honest election, currently scheduled for September, defying demands from protesters that he step down immediately. In a televised speech, Mubarak said he would delegate some powers to his vice president but he did not step down or relinquish the majority of his powers. Mubarak said he would create committees of leading Egyptians to implement constitutional reforms and that the demands of the protesters would be met. Television images after Mubarak's speech showed crowds in Cairo reacting angrily to the speech. Demonstrators have been demanding Mubarak's immediate departure for almost three weeks. Earlier reports, widely broadcast around the world, had said Mubarak would resign.

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Mubarak says to stay in power until Sept. election