Egyptian military administration ready for power transfer

The ruling Egyptian military agrees to transfer power to civilians, RIA Novosti reports.

The agreement was made on Tuesday after a series of protests in Egypt. The military agreed that a new government should be formed and presidential elections be held in the first half of 2011.

This morning world media reported that former Soviet leader Mikhail Gorbachev said he saw today’s protests in Egypt as “well-grounded and of vital importance.”

“I am on the protesters’ side,” the 80-year-old Nobel Peace Prize winner told The Associated Press.