"The Gadhafi regime is coming to an end, and the future of Libya is in the hands of its people," Obama said as he came out of his summer vacation to issue a statement on the extraordinary developments in Libya.
"In just six months, the 42-year reign of Muammar Gaddafi has unraveled," Obama said today afternoon soon after he held a call with the National Security Council officials and a telephonic conversation with British Prime Minister David Cameroon.
The President said the situation in Libya has reached a tipping point, as the opposition increased its coordination from east to west, took town after town, and the people of Tripoli rose up to claim their freedom.
"For over four decades, the Libyan people had lived under the rule of a tyrant who denied them their most basic human rights. Now, the celebrations that we've seen in the streets of Libya shows that the pursuit of human dignity is far stronger than any dictator," Obama said.
However, he emphasised that this is not over yet.
"As the regime collapses, there's still fierce fighting in some areas, and we have reports of regime elements threatening to continue fighting," the President said.
Obama said although it's clear that Gadhafi's rule is over, he still has the opportunity to reduce further bloodshed by explicitly relinquishing power to the people of Libya and calling for those forces that continue to fight to lay down their arms for the sake of Libya.
"As we move forward from this pivotal phase, the opposition should continue to take important steps to bring about a transition that is peaceful, inclusive and just," the President said.