Beleaguered Georgian President Eduard Shevardnadze was finally forced to resign after meeting the opposition and Russian Foreign Minister Igor Ivanov. The Speaker of the outgoing parliament — Opposition leader Nino Burdzhanadze - has become the acting President.

Announcing his resignation on national television, Shevardnadze said:"I have never betrayed my people and I am stating now, too, that it is probably better for the President to resign, so all this can end peacefully and there is no bloodshed and no casualties."

More than 50,000 demonstrators camping outside the parliament let out a huge cheer as they came to know about Shevardnadze’s resignation. The talks between Shevardnadze, Opposition leaders Mikhail Saakashvili and Zurab Zhvania were held at the President’s residence and overseen by Ivanov.

"The President has accomplished a courageous act," said Saakashvili, head of the National Movement.

The United States recognised Burdzhanadze as interim President, offering support for Georgia´s new leaders while urging them to seek stability, abide by the Constitution and hold democratic elections.

The US Secretary of State looked forward to working with Interim President Burdzhanadze "in her effort to maintain the integrity of Georgia’s democracy as she strives to ensure that this change in government follows the constitution," a State Department statement said. As thousands of protestors shouted, cheered and danced to celebrate the news, Georgian television reported the presidential plane was waiting at the tarmac of the capital’s airport. "President Shevardnadze has resigned," Saakashvili said on Rustavi-2 television as he announced Burdzhanadze’s appointment as acting President. "He has taken a manly step by leaving office without spilling any blood," he said. Asked by reporters whom he was handing over power, the 75-year-old Shevardnadze, who was once the darling of the West, replied: "That is no longer any of my concern." Shevardnadze, who was forced to flee to his residence outside Tbilisi after angry protestors stormed the parliament, had sought to defuse the crisis by promising talks on new parliamentary and presidential elections.