Cairo (ANTARA News/RIA Novosti) - The Egyptian youth movement plans to found its own opposition party to "preserve the achievements" of nearly two weeks of the anti-government protests.

The party demands holding constitutional reforms in Egypt, forming a transitional government, releasing political prisoners and abolishing court-martials for civilians, ending the state of emergency and ensuring democratic freedoms.

The party`s emblem and possible candidates for its leadership are available on Facebook.

The movement`s main demand is the end to the nearly 30-year rule of President Hosni Mubarak, whose wealth is estimated by Middle East experts at some $70 billion in secret bank accounts.

Mubarak, 82, vowed to step down when his term of office ends in September. His son Gamal quit the leadership of Egypt`s ruling party on Saturday, dismissing the concerns of a possible succession scenario.

The Egyptian authorities have pledged to carry out a constitutional reform, revise the results of the controversial parliamentary elections, investigate the notorious corruption scandals and make the social and economic issues a priority in policies.

Many protesters at the Egyptian capital`s Tahrir Square, the main focus of anti-Mubarak riots, believe these steps have signaled the government`s readiness to start serious talks and return to normal life.(*)

Editor: Ruslan Burhani
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