10pm GMT: Tahrir Square is still full of celebrating people, just after midnight in the Egyptian capital. Time to wrap up this live blog – and thanks to everyone around the world who has read and contributed to it, whether by phone, Twitter, email and any other form of media.

Jack Shenker in Cairo sends over this video of tonight's celebrations:

I just wanted to share this one as it's from crowds gathered at the bottom of my street, which lies only a few minutes walk from Tahrir. Everybody from the local baker to my neighbour the car mechanic was down there, and with flame-throwers apparently the revolutionary prop of choice tonight, health and safety considerations were being thrown to the wind. Sleep is unlikely to be on the agenda tonight for anyone around here.

Here's a summary of the day's historic events:

• President Hosni Mubarak has resigned and handed over power to the army

• Egypt's protests erupted in celebration as news spread that Mubarak had left Cairo

• The military command issued a statement promising a transition to democracy and to respect the will of the people

• Reports say the military has sacked the cabinet and suspended parliament

• Obama said the US will continue to be a friend and partner of Egypt, and that the events in Tahrir Square were an inspiration to the world

• Swiss authorities issue a pre-emptive freezing of any financial assets held by the Mubarak family in the country

Hats off to the Guardian's journalists on the ground: Jack Shenker, Peter Beaumont, Harriet Sherwood, Sean Smith and Chris McGreal.

Can't believe I witnessed the revolution but missed final act. To all who stood up to Mubarak's thugs, your courage has been an inspiration peter beaumont

petersbeaumont

One final tweet: from Peter Beaumont, who was there in Cairo at the start but heard the news today while in a Morrisons supermarket carpark.

9.45pm GMT: Algeria is another country with a nervous government, ahead of a day of protest planned for Saturday. The government and security forces are leaving nothing to chance according to this AFP report from Algiers via Google:

Large numbers of police were deployed in central Algiers Friday ahead of a pro-democracy march planned by opposition groups in defiance of a government ban. The head of the opposition Rally for Culture and Democracy (RCD), Said Sadi, said the authorities had ringed the capital in a bid to prevent people joining Saturday's march from outside. "Trains have been stopped and other public transport will be as well," he said. Sadi claimed that 10,000 police were being drafted into the city, to reinforce the 20,000 who succeeded in blocking the last protest on January 22, when five people were killed and more than 800 hurt in clashes.

Meanwhile, an unemployed man who had set himself on fire in the town of El Oued, in the far east of Algeria, died today, bringing to four the number of suicides by self-immolation in the last month, apparently inspired by events in neigbouring Tunisia.

9.32pm: After the overthrow of regimes in Tunisia and Egypt, how are the region's other governments reacting? The Guardian's Julian Borger tweets some fascinating news from Bahrain:

Reports say Bahrain's King Hamad has offered a grant of $2600 to every family ahead of Bahrain's day of rage due on Monday. Panic spreads. Julian Borger

julianborger

Well that's one way of doing it.

9.18pm GMT: Michael Bimmler, a Swiss student at Oxford, emails more details about the Swiss authorities freezing the assets of the Mubarak clan and allies:

The reason that the Foreign Ministry did not give details is that they did not know at the time of making the statement whether he holds any assets in Switzerland, or at least, they don't officially know. This is the usual procedure in such cases, and has also been the procedure for Tunisia earlier this year: Besides decreeing that all accounts etc belonging to Hosni Mubarak and his family plus certain ex-ministers are immediately blocked, it also mandates banks to report to the federal administration whether they hold any accounts in the name of Hosni Mubarak etc. Thus, it's a preventive "blanket injunction" aimed at any and all accounts of Mubarak et al, if there are any. It does not really serve to confirm whether Mubarak actually has any money in Switzerland or not, it could well be that actually no accounts will found to fall within the remit of the injunction.

More details here [pdf, in French] and the individuals named:

Hosni Mubarak

Suzanne Thabet, wife of Hosni Mubarak

Alaa Mubarak, son of Hosni Mubarak

Heidi Rasekh, wife of Alaa Mubarak

Gamal Mubarak, son of Hosni Mubarak

Chadiga el Gammal, wife of Gamal Mubarak

Mounir Thabet, brother of Suzanne Thabet

Ahmed Alaa El Din Amin El-Maghrabi, former minister

Mohamed Zoheir Mohamed Wahid Garana, former minister

Habib Ibrahim El Adli, former minister

Ahmed Ezz, former head of the NDP

Rachid Mohamed Rachid, former minister

9.06pm GMT: The White House has just posted video of Obama's statement on Egypt online – it's one of his better speeches.

8.54pm GMT: Israel's former UN ambassador Dan Gillerman told Fox News today:

If the radicals prevail [in Egypt] then we will have Hamas in Gaza, Hezbollah in Lebanon and the Muslim Brotherhood in Egypt, which would be devastating not just for Israel but for the stability of the whole region.

Meanwhile, a senior Israeli official told Reuters: "It's too early to foresee how [Mubarak's resignation] will affect things. We hope that the change to democracy in Egypt will happen without violence and that the peace accord will remain."

8.49pm GMT: It turns out that Mubarak's fall is George Bush's fault – but not in the way you'd think. Salon reports:

Protesting against Bush's violent means of spreading democracy, a loosely formed group organized the largest demonstrations in Egypt's history around the March 20, 2003, invasion [of Iraq]. They eventually became known as Kefaya, meaning "Enough." Adopting the mission to bring down Mubarak and restore power to the Egyptian people, Kefaya held regular protests that called for the end of the emergency law, more freedom for the Egyptian people, and better handling of the economy – essentially similar demands seen in Tahrir Square today.

Out of Kefaya grew the April 6 youth movement, and the rest is history.

8.40pm GMT: Gibbs says Obama has not made any calls to heads of state in the region today in the wake of Mubarak's resignation. The spokesman also said that Obama had not spoken with Mubarak.

Gibbs also said Iran's government should allow its people to demonstrate and assemble peacefully, but instead was cracking down on opposition leaders and blocking international media in the wake of events in Egypt.

8.31pm: Now Obama pops up in the White House press briefing room, because it's the last day for his longtime spokesman Robert Gibbs. Obama begins by deadpanning:

Obviously, Gibbs's departure is not the biggest one today.

8.18pm GMT: NBC's Richard Engel, who has done a brilliant job reporting from Egypt, gets the reaction to Obama's words live from Tahrir Square, where he is mobbed by young men chanting Obama's name and "We love America!"

8.15pm: Obama's words are being carried live on Egyptian state television, with Obama saying the events there carried "echoes from Germans tearing down a wall," before quoting Martin Luther King:

'There's something in the soul that cries out for freedom.' Those were the cries that came out of Tahrir Square and the entire world has taken note. Tahrir means liberation, and it is a word that speaks to something in our souls that cries out for freedom – and will forever more remind us of the Egyptian people.

8.10pm GMT: "Over the last few weeks the wheel of history has turned at a blinding pace," says Obama, in a brief but powerful statement.

The US president began by praising the armed forces's role but calling for reform to continue:

The military has served patriotically and responsibly as a caretaker to the state and will now have to ensure a transition that is credible in the eyes of the Egyptian people.... Above all this transition must bring all Egyptian voices to the table.

Obama listed lifting Egypt's emergency laws, revising the constitution and enacting other safeguards to "make this change irreversible" and set the path for free and fair elections. He continued:

The US will continue to be a friend and partner to all the people of Egypt. We stand ready to provide whatever assistance is asked for. I know that a democratic Egypt can advance its role not only in the region but around the world.

And then with a nod to Martin Luther King:

Egyptians have inspired us, and they've done so by putting the lie to the idea that justice is best gained by violence. For Egypt, it was the moral force of nonviolence, not terrorism, not mindless killing, but nonviolence, moral force, that bent the arc of history toward justice.

8.06pm GMT: Obama is now speaking:

The people of Egypt have spoken. Their voices have been heard. And Egypt will never be the same..... But this is not the end of Egypt's transition, this is a beginning. Egyptians have made it clear that nothing less than genuine democracy will carry the day.

7.54pm GMT: Al Arabiya television is reporting that the Egyptian military will announce the dismissal of the cabinet, the suspension of the upper and lower houses of parliament, and that the head of the constitutional court will form an interim administration with the military council.

Al Arabiya is also reporting that Amr Moussa will step down as secretary general of the Arab League within the next few weeks – and he is talked of as a leading contender in the up-coming presidential elections.

7.48pm GMT: President Obama is due to make a statement on Egypt from the White House's Grand Foyer – reserved for set piece presidential apperances – in 15 minutes or so.

7.37pm GMT: Hosni Mubarak spent his last hours in office bitterly denouncing the US, according to a phone call he held with an Israeli politician.

Reuters reports that former Labour cabinet minister Binyamin Ben-Eliezer had a 20-minute conversation yesterday with Mubarak: "He had very tough things to say about the United States," Ben-Eliezer told Israeli TV.

According to Reuters:

"He gave me a lesson in democracy and said: 'We see the democracy the United States spearheaded in Iran and with Hamas, in Gaza, and that's the fate of the Middle East,'" Ben-Eliezer said. "'They may be talking about democracy but they don't know what they're talking about and the result will be extremism and radical Islam,'" he quoted Mubarak as saying.

7.30pm GMT: More reaction from Gaza, with Sami Abu Zuhri, the Hamas spokesman, issuing a statement tonight, saying Hamas was standing beside Egypt's "revolution victory" and backing its demands.

We congratulate the Egyptian people of this victory. We consider these results a victory for the people's will, stand, and sacrifices....

It criticised the Mubarak regime for its assistance in imposing a blockade on Gaza, adding:

"We are calling the new Egyptian leadership to announce immediately to leave the siege on Gaza and open the Rafah crossing from the Egyptian side and guarantee the free of movements and start the reconstruction."

7.24pm GMT: The Swiss government has frozen any assets belonging to Hosni Mubarak or family in Switzerland. The Foreign Ministry gave no details on what assets the Mubaraks hold in Switzerland, saying it "wants to avoid any risk of misappropriation of state-owned Egyptian assets".

7.15pm GMT: The Guardian's Jack Shenker shares the atmosphere in Tahrir Square right now:

The march from the presidential palace back to Tahrir square was a wall of sound. Car horns blared, amateur fireworks exploded centimetres above our heads,onlookers cheered raucously from the balcony above. Some people fainted, others unfurled their Egyptian flags in the middle of the street to pray, and many, many people had tears in their eyes. Amid the jubilation though, there was a moment of reflection for those who died to make this day possible. 'Be happy martyrs, for today we feast at your victory,' sung the crowds. On the ground were military police in red berets, all smiles and thumbs-up to demonstrators. Apprehension about what might happen next in an Egypt now under army control was being pushed aside to allow for celebrations, but as the procession reached the high-walled Ministry of Defence, Egyptians could not resist reminding their new overlords of who now held the balance of power in the Arab World's most populous nation. 'Here, here, the Egyptians are here,' they shouted up at darkened windows, pointing down to the street. "For 18 days we have withstood tear gas, rubber bullets, live ammunition, molotov cocktails, thugs on horseback, the scepticism and fear of our loved ones, and the worst sort of ambivalence from an international community that claims to care about democracy," said Karim Medhat Ennarah, a protester who has provided the Guardian with updates throughout the uprising. "But we held our ground. We did it."

7.07pm GMT: William Hague, the UK's foreign secretary, puts out a statement:

President Mubarak has heeded the calls of the Egyptian people for profound change and a fresh start. This change has been brought about by the courage and determination of the people of Egypt themselves. We have faith in their ability to shape their future and to seize the opportunity to move towards an open and democratic society. It is now time for Egyptians to move forward, to settle their differences peacefully and to achieve the transition to a broad-based government that meets the aspirations and commands the respect of all Egyptians. The Higher Council of the Military Forces has a particular responsibility to implement the concrete and irrevocable steps this transition requires and to prepare for free and fair elections. Any attempt to turn the clock back would be deeply damaging to Egypt's stability and cohesion and to its standing in the world, and would be met by condemnation. It is not a time for half-hearted measures. Egyptians have shown that they want irrevocable change for the better, not cosmetic change".

7.04pm GMT: Egyptian state TV has bowed to the inevitable and is just showing al-Jazeera's feed. A week ago the government banned the channel from operating. Now this.

Meanwhile, this website is doing the rounds for those wondering if Mubarak is still president, thanks to ismubarakstillpresident.com.

6.57pm GMT: Wael Ghonim seems to be reassured by the military statement reported below.

The military statement is great. I trust our Egyptian Army #Jan25 Wael Ghonim

Ghonim

The armed forces statement said: "We know the extent of the gravity and seriousness of this issue and the demands of the people to initiate radical changes. The higher military council is studying this issue to achieve the hopes of our great people."

6.50pm GMT: In this audio you can hear the emotion in the voice of veteran activist Ahmed Salah, as he shared what today means to him:

It brought tears to my eyes several times. I mean I have always had faith that we will win but this is remarkable. It's like, how many days? We started on the 25th ... and we won. That couldn't have been imaginable just even a week ago, 10 days ago, that we will actually be free.

6.43pm GMT: More on vice president Joe Biden's remarks on Egypt today:

This is a pivotal moment in history. This is a pivotal moment not just in Middle East history but in world history.

On Fox News though they have a different view. One presenter said it was the biggest event since "victory in Iraq".

Carl Bernstein – the Watergate guy – says it's on the scale of the fall of the Berlin Wall.

6.35pm GMT: The White House now says that Obama's statement will take place at 3pm ET / 8pm GMT / 10pm EET.

6.29pm GMT: A spokesman for Egypt's military has just appeared on television to read a new statement, "Communique Number Three".

Read aloud in a flat monotone, the statement said that the supreme council of the armed forces was "currently studying the situation to achieve the hopes of our great people" and will issue further statements to clarify its position:

The council will issue a statement outlining the steps and procedures and directives that will be taken, confirming at the same time that there is no alternative to the legitimacy acceptable to the people.

The military also had a farewell message for Mubarak:

"The supreme council of the armed forces is saluting President Hosni Mubarak for all he has given in sacrifice in times of war and peace."

And it had kind words for the protesters:

"The supreme council of the armed forces is also saluting the spirits of those who were martyred."

Note that the army's statement made no mention of vice president Suleiman – interesting in the context of the Ahram Online report mentioned below. Further analysis of what this all means when we get the full text.

6.25pm GMT: The New York Times's Lede blog alerts us to an intriguing report from Ahram Online, the English-language arm of the state newspaper Al Ahram, that "both of last night's addresses by Mubarak and Suleiman were in defiance of the armed forces":

Maj. Gen. Safwat El-Zayat, a former senior official of Egypt's General Intelligence and member of the Egyptian Council of Foreign Affairs, asserted, in an interview with Ahram Online, that the address delivered by President Mubarak last night was formulated against the wishes of the armed forces, and away from their oversight. He claimed that Vice Preisdent Omar Suleiman's address, which came on the heels of Mubarak's address, was equally in defiance of the armed forces and away from its oversight.

El-Zayat said that represented a deep cleavage between the armed forces and the presidential authority of both Mubarak and Omar Suleiman.

6.18pm GMT: My colleague Hazem Balousha sends this from Gaza City:

Hamas is calling on people to rally tonight all over Gaza to celebrate the resignation of Hosni Mubarak and his regime. People are patrolling the streets and raising Egyptian flags. Some Hamas fighters have fired into the air since it was announced that Mubarak stepped down.

6.13pm GMT: The White House has announced that Barack Obama's statement on Egypt, scheduled for 1.30pm ET (6.30pm GMT), has been delayed, and the venue has been switched from the press briefing room to the Grand Foyer as the administration prepares to ramp up Obama's response.

This is Richard Adams in Washington DC taking over live blogging duties.

6.08pm: Here's a video of the full statement from the vice president Omar Suleiman.

It's fair to say he doesn't look very happy.

6.00pm: It can't be very often that Amnesty International is joining in the celebrations of an army taking power but this has not been an ordinary day. Secretary General Salil Shetty said:

I congratulate the protesters for their extraordinary courage and commitment to achieve fundamental change. Persistent attempts to put down peaceful protests have not only failed but redoubled the determination of those demanding change. The way Egyptians have taken to the streets in unprecedented numbers to demand dignity, human rights and social justice has been an inspiration to oppressed peoples everywhere. The departure of one man is not the end. The repressive system that Egyptians have suffered under for three decades has not gone away and the State of Emergency remains in place. Those in power must grasp this opportunity to consign the systematic abuses of the past to history. Human rights reform must begin now.

5.58pm: Ian Black, the Guardian's Middle East editor has been analysing what comes next.

On the army:

Rule by the military can only be temporary. Mubarak's exit, the dissolution of what is seen as an illegitimate parliament, constitutional reforms and abolition of the emergency laws are all non-negotiable. If those reforms are achieved then Egypt will have witnessed a real revolution – beyond the removal of a stubborn 82-year-old president long past his sell-by date. It seems clear from the events of recent days – especially the confusion and contradictory messages on Thursday — that the army is divided. If it moves solely to protect its own privileged position, and that of the big businessmen who have done so well out of their links with the regime – then the system will not open up, at least not without large-scale repression and bloodshed.

On the implications for the wider Middle East:

Egypt's extraordinary change matters first for Egypt's 82m people. But what happens in the Arab world's most populous country matters for many millions of other Arabs, who also suffer from unemployment, inequality, corruption and unresponsive, unaccountable governments – and share the language in which it is being covered in media such as al-Jazeera and social networking sites that official censors cannot easily block. Other authoritarian regimes, shocked first by the uprising in Tunisia and now in Egypt, have been trying to pre-empt trouble by promises of reform, sacking ministers, maintaining subsidies or raising wages to buy off critics and defuse tensions. The symptoms are visible from Yemen to Jordan, from Algeria to Syria.

On the implications for the US:

Egypt remains a vital asset in allowing US military overflights, as the guardian of the strategically vital Suez canal, and a loyal ally in the regional confrontation with Iran. Mubarak has played a key role in supporting the western-backed Palestinian Authority and containing the Islamist movement Hamas in the Gaza Strip, not least because of its affinity with the banned Muslim Brotherhood – whose likely future role in a freer Egyptian political system is a key and much-discussed issue both at home and abroad. The events of the last 18 days have forced Obama to shift away from stability to embracing if not promoting democracy – to the evident discomfort of other conservative Arab friends, especially the Saudis. Jordan and Yemen share those concerns – fearing that unconditional US support for them may now also wane.

5.54pm: Joe Biden, the US vice president, who initially defended Mubarak, saying he was not a dictator and should not stand down, said: "This is a pivotal moment in history... the transition that's taking place must be an irreversible change"

There has been reaction from other leaders.

The British prime minister David Cameron called for a move to "a move to civilian and democratic rule" . He said the departure of Mubarak offered Egypt a "really precious moment of opportunity". Speaking on the steps of No 10, he said the new government should start to put in place "the building blocks of a truly open, free and democratic society".

German chancellor Angela Merkel, said: "Today is a day of great joy. We are all witness to historic change. I share the joy of people on the streets of Egypt."

5.49pm: The Nobel peace prize winner and Egyptian opposition figure Mohamed El Baradei has been talking to Al Jazeera in the last half and hour.

"This is the emancipation of Egypt. This is the liberation of the Egyptian people," he said in a phone interview with the broadcaster's English-language news channel. "It's a dream come true," said El Baradei, who added that it was the Egyptian people who had been able to restore their "humanity and independence.

Asked what happens next, he replied: "What I have been talking about and proposing is a transition period of one year. We would have a provisional council, a transition government, preferably a provisional council including a person from the army and civilians, but the main idea would be that the army and the people would work together for a year up to the point where we could have a free and fair election."

He said his message to the Egyptian people was: "You have gained your liberty, you have gained the right to catch up with the rest of the world. Make the best use of it you can and God bless you."

5.48pm: There has s been a jubilant response in Lebanon and Tunisia, the Associated Press reports:

Moments after Egypt's vice president Omar Suleiman made the announcement of Mubarak's resignation, fireworks lit up the sky over Beirut. Celebratory gunfire rang out in the Shiite-dominated areas in south Lebanon and in southern Beirut. On Al-Manar TV, the station run by the Shiite Muslim Hezbollah faction, Egyptian anchor Amr Nassef, who was once imprisoned in Egypt for alleged ties to Islamists, cried emotionally on the air and said: "Allahu Akbar (God is great), the Pharaoh is dead. Am I dreaming? I'm afraid to be dreaming." In Tunisia, where a successful uprising expelled a longtime leader only weeks earlier, cries of joy and the thundering honking of horns greeted the announcement. "God delivered our Egyptian brothers from this dictator," said Yacoub Youssef, one of those celebrating in the capital of Tunis.

5.47pm: Amr Mousa, an Egyptian, and the secretary general of the Arab League, who has previously hinted that might stand for presidency, has given his reaction:

I look forward to the future to build a ntional consensus in the coming period. There is a big chance now and a window has opened after this white revolution and after the president's concession. Asked if he was interested in being president, he said: "This is not the time to talk about that ... As an Egyptian citizen, I am proud to serve my country with all the others at this stage, to build a consensus of opinion."

5.46pm: Our political correspondent Allegra Stratton says the UK has already been considering the prospect of an asylum application from Mubarak:

The UK's national security council (NSC) has considered what happens if Hosni, his wife Suzanne or or their son Gamal Mubarak, indeed any of the president's family, would like asylum in the UK. Remember Gamal has a five-storey house in Knightsbridge. A government source says that the Foreign Office is aware that the UK's government's new position on the middle east – hands off, welcoming of change – would be troubled if the UK were to also grant any asylum requests to Mubaraks or indeed other deposed Arab leaders. The text from the NSC meeting, held last week, says: "The NSC is working on predicting where and when events might occur next. There is a low risk that former heads of state and members of regimes might seek refuge here. Many have the documentation and money to get here, and some will have links to the UK. Each request will be considered, in consultation between the Home Office and Foreign Office, on a case by case basis." So, cautious language, but the source says they are thinking about what their position will be as and when any request comes through. There will be a question mark over exactly what the FCO and Home office could do given Suzanne was born in Wales and is thought to have British citizenship.

5.42pm: In what has turned out to be a momentous day, here is a summary of events.

President Hosni Mubarak has resigned and handed over power to the army. His vice president, Omar Suleiman, said in a short TV address: "In these difficult circumstances that the country is passing through, President Hosni Mubarak has decided to leave the position of the presidency. He has commissioned the armed forces council to direct the issues of the state."

Protests turned to celebrations around Egypt. "Cairo erupts in celebration as 18 days of defiant protest finally delivers a revolution after 24 hours of euphoria, dashed hopes and victory," our correspondent Chris McGreal wrote from outside the state TV centre. "There was a complete eruption of humanity, I have never seen anything like it. The world's biggest street party has really kicked off here," said Jack Shenker from outside the presidential palace.

But there are still questions over what happens next. The army is now in charge and it has yet to make its intentions clear.

5.28pm: Our correspondent Chris McGreal was outside the Egyptian state TV building when the historic announcement was made. In this audio report, he says:

They were completely stunned. When this very brief announcement came from the vice president Omar Suleiman, he simply said "Mubark's gone", there was a a pause. Then a ripple went through the crowd and they went wild. Some fell onto their knees praying, people were weeping instantly. They were hugging each other, chanting in unison, "Mubarak's gone", words to that effect. There was joy, euphoria, call it what you want. I think people couldn't quite grasp that this revolution that they'd led fro 18 days had finally delivered.

But Chris warns there will now be close scrutiny of the army:

Of course there will be a sobering up. Not many people are thinking of what the military role means and of course once the military is in the saddle so to speak, people will be looking to it to actually deliver. They will be wanting to see, for instance, the dissolution of parliament, the lifting of the state of emergency, all the kind of things they have been demanding as well as Mubarak's resignation. I think they're feeling newly empowered, I think people realise the can hold parliament to account of bring it down and if it's seen to be not delivering they may well be back out on the streets.

5.20pm: There are reports that the Egyptian army is to make another statement soon.

5.19pm: Nicholas Kristof, the New York Times Pulitzer prize-winning journalist, has been quick to instill a note of caution:

But the game isn't over, and now a word of caution. I worry that senior generals may want to keep (with some changes) a Mubarak-style government without Mubarak. In essence the regime may have decided that Mubarak had become a liability and thrown him overboard — without any intention of instituting the kind of broad, meaningful democracy that the public wants. Senior generals have enriched themselves and have a stake in a political and economic structure that is profoundly unfair and oppressive. And remember that the military running things directly really isn't that different from what has been happening: Mubarak's government was a largely military regime (in civilian clothes) even before this. Mubarak, Vice President Suleiman and so many others — including nearly all the governors — are career military men. So if the military now takes over, how different is it?

5.18pm: Harriet also contemplates how the downfall of Mubarak will play in Israel, his great ally:

Israel will now be extremely uncertain about future relations with Egypt. The peace treaty between the two countries that has been in place for more than 30 years has not exactly made them warm allies, but the peace has held. Israeli ministers and officials have been warning for almost three weeks that regime change in Egypt could end the "cold peace". Their worst fears are that the Islamist Muslim Brotherhood will gain in power and influence and Egypt will adopt a hostile attitude towards the Jewish state. They are also worried about the impact on Gaza, as Hamas has close ties to the Muslim Brotherhood. There was no immediate reaction to Mubarak's resignation from the prime minister's office, although a statement was expected later tonight. Binyamin Netanyahu has been telling his international counterparts that Israel expects any future Egyptian government to honour the peace treaty and that the international community should be making that clear to an incoming regime.

5.17pm: Harriet Sherwood reports from Israel on the reaction to Mubarak's demise from Hamas:

I've just spoken to Mahmoud Zahar, a senior Hamas leader in Gaza. He was cautious in his reaction to events in Egypt, saying Hamas had no wish to interfere with Egypt's internal affairs. But, he added, Hamas hoped to see an improvement in relations between Egypt and all Palestinians. "We are one family," he said. The Muslim Brotherhood, Hamas's close allies, "are present everywhere", he said. He would not be drawn on whether a new Egyptian regime may wish to review the peace treaty it signed with Israel more than 30 years ago. "There is no clear picture about the new government, but it will be controlled by the army t begin with, he said. "We are hoping to benefit."

4.59pm: Here's some reaction from Qatar, from Reuters:

The Qatari government said it regarded Egypt's transfer of power to a military council on Friday as a positive step. "This is a positive, important step towards the Egyptian people's aspirations of achieving democracy and reform and a life of dignity," the statement from the Emir's royal council said.

4.54pm: Mubarak picked an auspicious date to resign. On this day 32 years ago the Iranian revolution took place when the Shah's forces were overwhelmed. And 21 years ago today Nelson Mandela was freed by the apartheid regime in South Africa.

4.50pm: Wael Ghonim, Google's head of marketing in the Middle East, annointed by some as the voice of the revolution after his emotional speech on his release from prison, tweeted simply: "Welcome back Egypt".

4.46pm: Reaction has started to come in from the US and the EU.

The White House spokesman Tommy Vietor said:

The president was informed of president Mubarak's decision to step down during a meeting in the Oval Office. He then watched TV coverage of the scene in Cairo for several minutes in the outer Oval (office).

The EU foreign policy chief, Catherine Ashton, said:

The EU respects president Mubarak's decision today. By standing down, he has listened to the voices of the Egyptian people and has opened the way to faster and deeper reforms. It is important now that the dialogue is accelerated leading to a broad-based government which will respect the aspirations of, and deliver stability for, the Egyptian people. The future of Egypt rightly remains in the hands of the Egyptian people. The EU stands ready to help in any way it can.

4.43pm: Tariq Ali has written a piece for Comment is free. He says:

A joyous night in Cairo. What bliss to be alive, to be an Egyptian and an Arab. In Tahrir Square they're chanting, "Egypt is free" and "We won!" The removal of Mubarak alone (and getting the bulk of his $40bn loot back for the national treasury), without any other reforms, would itself be experienced in the region and in Egypt as a huge political triumph. It will set new forces into motion. A nation that has witnessed miracles of mass mobilisations and a huge rise in popular political consciousness will not be easy to crush, as Tunisia demonstrates.

4.42pm: Barack Obama, who appeared humiliated last night when Mubarak gave that infamously equivocal statement, is to speak at the White House at 6.30pm GMT.

4.36pm: The Guardian's Twitter map of Middle East protests is being overrun with outpourings of emotion from Egypt at the moment. It's a great visual representation of the reactions in the country.

Says @Port_Sa3eedy: "Someone slap me... I can't believe.... I'm tearing down #egypt #mubarak "

4.28pm: From amidst a cacophony of cheers, our correspondent Jack Shenker describes the reaction of the crowd outside the presidential palace.

There was a complete eruption of humanity, I have never seen anything like it. The world's biggest street party has really kicked off here. There are huge huge crowds of people jumping up and down suddenly as one. Suddenly everyone rushed into the road. I'm being slapped in happiness and bounced around.

4.27pm: Egyptian state TV is showing live pictures of the celebrtions in Tahrir square. "The newsreader is smiling and looks as happy as many of the people down there on the square," says the anchor on al-Jazeera English.

4.23pm: The Egyptian pro-democracy campaigner Mohamed ElBaradei has cheered Mubarak's resignation. "This is the greatest day of my life. The country has been liberated after decades of repression," he told The Associated Press. He said he expects a "beautiful" transition of power.

4.20pm: Our correspondent Chris McGreal in Tahrir Square writes: "Cairo erupts in celebration as 18 days of defiant protest finally delivers a revolution after 24 hours of euphoria, dashed hopes and victory."

4.17pm: We have now embedded a live video stream from Tahrir Square. You can watch it by refreshing this page.

4.12pm: The full text of the vice-president's very brief statement:

In these difficult circumstances that the country is passing through, President Hosni Mubarak has decided to leave the position of the presidency. He has commissioned the armed forces council to direct the issues of the state.

4.03pm: There are huge cheers in Tahrir Square.

President Mubarak has gone and the army has been entrusted with the republic, it has just been announced.

4.02pm: Omar Suleiman is making a statement now. "President Hosni Mubarak has decided to waive the office of the republic."

3.54pm: A potentially interesting development from Reuters:

A senior Egyptian military spokesman arrived at the headquarters of Egypt's state television on Friday, a military source told Reuters. Earlier, Egyptian state television had reported that the presidency was due to issue an important statement.

3.49pm: My colleague Harriet Sherwood sends this from Jerusalem:

The Israeli media is reporting a telephone conversation between Mubarak and Israel's trade minister Binyamin Ben-Eliezer, a long-time friend, shortly before the Egyptian president's speech last night. Ben-Eliezer told Israel's Army Radio: "He knew that this was it, that this was the end of the road. He was looking for only one thing – give me an honourable way out. 'Let me leave in an honourable fashion.'"

3.48pm: Here is an interactive map of the Guardian's Twitter network of Arab protests.

3.44pm: Our correspondent Martin Chulov, who is monitoring events from Amman, says Egyptian state TV is now interviewing protesters. "This time, he must be gone," Martin says.

3.43pm: We are awaiting a "statement from the presidency" - not, interestingly, from the president. In the meantime Hossam Badrawi, secretary general of the ruling NDP, has announced he has quit the party in an interview on Hayah TV, according to multiple sources. Yesterday he had been prominent among those who were predicting that Mubarak was about to stand aside.

"It's a resignation from the position and from the party," Badrawi told al-Hayat TV. "The formation of new parties in a new manner that reflects new thinking is better for society now at this stage."

3.41pm: Al-Arabiya TV is now reporting that police killed 5 people in the clashes in el-Arish (see 3.32pm).

3.32pm: There are reports of clashes in the north Sinai town of el-Arish. Al-Jazeera says at least one person died and 20 were injured when people with small firearms attacked a police station. From Reuters:

Around 1,000 Egyptians attacked a police station in the north Sinai town of el-Arish on Friday to try to free prisoners, exchanging gunfire with police who retreated to the roof, witnesses said. The attackers set ablaze three vehicles outside and hurled petrol bombs during confrontation.

3.31pm: My colleague Richard Adams in Washington sends the following:

White House official just said: Mubarak's departure to Sharm el-Sheikh a "positive first step". Also says Suleiman will be "clarifying" what his powers are. Egyptian TV says statement "from the office of the presidency" very, very shortly. Egyptian army tanks surrounding the presidential palace have turned their gun turrets away from the crowd, according to CNN.

3.30pm: On the Arabist blog, Issandr El Amrani has posted his instant thoughts on the situation as he sees it. It's worth a read. Amrani believes it is "pretty evident that Suleiman is in charge". He asks why the regime, including the army, still need Mubarak to be nominally in charge. He says:

Mubarak needs to be in place, even if only symbolically, for amendments to the constitution to be made. If the constitution is suspended, then this forces the army to take charge itself (presumably through the supreme military council), which opens the way to demands for civilian government and lifts the last layer of distance that the army has vis-a-vis the people.

3.00pm: There are reports that president Hosni Mubarak has left Cairo. Helicopters have been seen leaving the presidential palace in Cairo, and a local government official has said he is in the red sea resort of Sharm el-Sheikh.

After Mubarak's speech last night, it appeared he had defied the people's call for him to step aside. But today, Egyptian diplomats are briefing that he has indeed relinquished power to his deputy, Omar Suleiman. The army also stated that a handover of power had begun.

The New York Times is portraying this as a significant moment in the protests. It says diplomats are trying to confirm that Mubarak's speech last night "signalled his irrevocable handover of presidential authority":

Western diplomats said that officials of the Egyptian government were scrambling to assure that a muddled speech Mr Mubarak made on Thursday night that enraged protesters had in fact signalled his irrevocable handover of presidential authority. "The government of Egypt says absolutely, it is done, it is over," a Western diplomat said. "But that is not what anybody heard" in Mr Mubarak's speech.

To read how events unfolded earlier today click here.