American and Arab media are buzzing with late-breaking rumors that Egyptian President Hosni Mubarak will announce his resignation tonight, almost surely in anticipation of massive rallies planned for tomorrow after Friday prayers. If true, this would be a significant victory for the hundreds of thousands of protesters who have gathered in Tahrir Square in Cairo and throughout Egypt throughout the last few weeks.
What comes next, however, is not clear. The military has been threatening a coup since yesterday, with the Egyptian Army Chief of Staff Sami Enan telling the masses in Tahrir today that "all your demands will be met…it ends tonight." Although that statement is similar to ones made by other regime officials throughout the last few days, the mood among the protesters in Tahrir suggests that they expect the Army to be more receptive to their demands than Mubarak and his intelligence chief and newly-minted Vice President Omar Suleiman.
The big question now is who exactly will take over, and how temporary his rule will be. Speculation is changing rapidly, but the predominant theory that's being pushed on Al Jazeera English right now is that the military was troubled by the possibility that Hosni Mubarak would try to hand over the reigns to Omar Suleiman, and that is why they've effectuated what appears to be a coup. Suleiman is Mubarak's dyed-in-the-wool intelligence chief, and few have faith in him to carry out real reforms, with even his American backers expressing doubts about his commitment to change.