Al-Masry Al-Youm reports: Presidential hopeful Mohamed ElBaradei issued a statement Saturday night declaring his willingness to head a national salvation government if he was asked officially to do so and was given full powers. He added that he would give up his bid for presidency.

ElBaradei’s statement came after his nomination by revolutionary groups and Tahrir protesters to head a national salvation government to replace the military council in ruling the transitional period.

ElBaradei says in the statement that, if assigned officially to form the government, he will withdraw from the presidential race “to ensure confidence and total neutrality in his leadership of the transitional period.”

Names suggested to take part in the government include two other presidential candidates: Abdel Moneim Abouel Fotouh and Hamdeen Sabbahi.

ElBaradei met earlier today with youth groups who declared their refusal of newly appointed Prime Minister Kamal Ganzouri and reaffirmed that the only way out of the current crisis is the formation of a fully empowered national salvation government to manage the transitional period until the presidential elections.