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Libya welcomes new assembly

Applause -- as Libya's ruling council hands over power to a newly-elected national assembly in Tripoli In a late-night ceremony on Wednesday, the National Transitional Council -- the political arm of the opposition forces that toppled Muammar Gaddafi a year ago -- transferred power to the national congress elected in July. And on the streets of Tripoli, jubilation. Thousands gather in Martyrs' Square -- formerly Green Square under Gaddafi -- to celebrate the landmark event. It's the North African country's first peaceful transition of power in its modern history. (SOUNDBITE) (Arabic) LIBYAN MAN, HUSSEIN AYYAD, SAYING: "It is a great feeling, all Libyans do have the same feeling, it is a joyful event." The date of the handover marks one year since rebels overran Tripoli, forcing Gaddafi to flee. The newly-elected congress was set to hold its first session on Thursday afternoon.

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