President Musharraf’s resignation has seen dancing in the streets of Lahore, the stock market picking up and hope reignited for democracy in Pakistan. But what will a new president mean for Kashmir, terrorism and international relations?

This is what the global media had to say about Pervez Musharraf stepping down:

New Era for Pakistan — and Kashmir? With the resignation today of President Pervez Musharraf, a new political era in Pakistan and a forthcoming national election in India would seem to promise hope for reopening in a serious way the question of what to do about Kashmir. — The Nation

Musharraf Steps Down, Avoiding a Confrontation. Mr Musharraf’s resignation, announced in a national television address Monday, marks a victory for the governing coalition of his political opponents that was preparing to impeach him. — Wall Street Journal

Dance, gunfire, tea – but little sympathy. While most were glad to see the end of Musharraf’s time in power, there was huge cynicism about what will follow. “They’re all American puppets, all our rulers,” said Mohammed Attique, an engineer. “And they are greedy, corrupt. There has been no change for 60 years, so why should we expect it now?” — The Guardian

Musharraf’s failed double game led to his undoing. Though Musharraf forged a personal bond with Bush, the general proved to be a tough, frustrating customer for the United States. — International Herald Tribune

Gen. Pervez Musharraf Resigns. Musharraf, Zardari, Sharif – they are all imperfect human beings. In a good system each could be good. What is clear is that these three could not work together. — All Things Pakistan

Musharraf resigns. Reality is that its not the politicians of Pakistan who are corrupt … Its the people of Pakistan who are corrupt… — Global Voices Online

Pakistan Looks Ahead Without Musharraf. The immediate reaction in Pakistan’s corridors of power and streets to the resignation of President Pervez Musharraf was one of optimism and opportunity. — New York Times