Paris: World leaders on Friday hailed the toppling of Egyptian president Hosni Mubarak as an historic victory for people power, paving the way for democracy, amid scenes of jubilation.

As Mubarak's three-decade-long rule ended, a day after he enraged protesters by refusing to stand down, messages of

congratulation to the Egyptian people flooded in.

In the first US reaction to the tumultuous events, Vice President Joe Biden spoke of an "historic day" for the people of

Egypt and said Mubarak's departure must lead to a negotiated path towards democracy.

But Biden also warned of "delicate and fateful" days ahead and said the ouster of Mubarak was a "pivotal moment" in the

Middle East.

US President Barack Obama was to make a televised statement later Friday, but Wall Street reacted to the news from Egypt

almost immediately, rebounding from earlier slight losses to solid gains.

German Chancellor Angela Merkel said the move marked an "historic change", adding that she expected the "future Egyptian

government to continue to keep the peace in the Middle East, in that the agreements made with Israel are respected and

Israel's security is guaranteed."

EU foreign policy chief Catherine Ashton judged that the 82-year-old strongman had "listened to the voices of the Egyptian

people" who have staged more than two weeks of massive protests for his departure.

"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," Ashton said in a statement.

In fellow north African country Tunisia, whose own "Jasmine Revolution" spurred on the Egyptian revolt, people danced in the

street and blared their horns.

"It's wonderful! Two dictators have fallen in less than a month," said 23-year-old student Nourredine, referring to January's

ouster of Tunisian strongman Zine El Abidine Ben Ali

Another Arab nation, Qatar, called the power change a "positive and important step towards achieving the aspirations of the

Egyptian people for democracy, reform, and a decent life," according to a statement carried by the state news agency QNA.

Reactions came from all quarters of the Islamic world.

Iran described Egyptian protesters as having achieved a "great victory."

"The conquest by the will of the great Egyptian nation over the resistance and persistence of officials who were dependent on

the world powers is a great victory," foreign ministry spokesman Ramin Mehmanparast told Iran's Arabic-language Al-Alam

television.

From the Gaza Strip, Hamas spokesman Sami Abu Zuhri likewise praised the "the start of the victory of the Egyptian

revolution" and celebrations erupted across the territory.

For its part, Turkey tapped the Internet that has powered the Egyptian revolt, with Foreign Minister Ahmet Davutoglu

twittering hopes that Mubarak's departure would produce a new "system" meeting the demands of ordinary Egyptians.

Israel offered a more cautious reaction to Mubarak's departure, with a government official describing the moment as "too

important to draw immediate conclusions about the outcome."

"We hope that the transition to democracy, for Egypt and for its neighbours, will be done smoothly," the official told AFP,

speaking on condition of anonymity.

But the official also stressed the need to preserve the 1979 peace treaty between Israel and Egypt, which was signed two

years before Mubarak came to power.