UN, U.S, Canada hails Israel-Gaza truce deal

Israel and the Hamas militant group agreed to a cease-fire Wednesday to end eight days of the fiercest fighting in nearly four years.

Cheering Gazans and Palestinians emerged from their homes after a week, flooding the streets in wild celebration. Gunmen fired in the air, and chants of "God is Great" echoed from mosque loudspeakers. Residents hugged and kissed in celebration, while others distributed candy and waved Hamas flags.

The deal was brokered by the new Islamist government of Egypt, solidifying its role as a leader in the Middle East after two days of intense shuttle diplomacy that saw U.S. Secretary of State Hillary Rodham Clinton race to the region. Under the agreement, Egypt will play a key role in maintaining the peace.

"The members of the Security Council welcomed the ceasefire agreement reached in relation to the Gaza Strip in order to bring about a sustainable and durable cessation of hostilities that have been affecting the Gaza Strip and Israel," said a statement read to the press by Hardeep Singh Puri, the Indian UN ambassador who holds the rotating council presidency for November.

In a statement published by Palestine's official news agency Wafa, Palestinian President Mahmoud Abbas said he supports the agreement "to stop the bloodshed of our people and to put an end to the continuation of the Israeli aggression on Gaza."

In Washington, U.S. President Barack Obama thanked Morsi for his mediation efforts for the truce deal.

"The president thanked President Morsi for his efforts to achieve a sustainable ceasefire and for his personal leadership in negotiating a ceasefire proposal," the White House said in a statement.

"Canada welcomes this ceasefire ... The Egyptian government showed leadership and responsibility as a major regional state," Foreign Minister John Baird said.

In Brussels, European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso welcomed the ceasefire deal, saying relevant parties must "ensure its implementation and to prevent the restart of violence."