Hosni Mubarak Will Not Resign

Despite reports that President Hosni Mubarak would step down today, the maligned Egyptian leader took to state television and announced that he would be fulfilling his term. He reiterated his February 1 speech in which he said he would not be running for reelection in September, and that it is his intention to oversee a peaceful transition of power.

Addressing calls from foreign leaders for his resignation, President Mubarak said he will never accept "diktats from abroad."

He agreed to delegate some powers and responsibilities to Vice President Omar Suleiman, but he will not step down until a legal transfer of power is held through the elections in September.

He also asserted that he and his son, Gamal Mubarak, will always be "dignified," and that they will not leave Egypt.

Reports from Tahrir Square say protesters are angered and chanting for Mubarak to leave.

Egypt's Mubarak refuses to quit [BBC]