World urges Gadhafi to surrender, plans future

World leaders said Monday the end is near for Moammar Gadhafi's regime and began planning for Libya's future without the man who has held power for 42 years.

They welcomed the rebels' dramatic advances in the Libyan capital, Tripoli, after six months of fighting, and urged Gadhafi to surrender and avoid a bloodbath. Hundreds of Libyans living abroad in the Middle East and Europe celebrated in the streets, taking over embassies, burning images of the Libyan strongman and hoisting rebel flags.

Though Gadhafi's whereabouts were not known, leaders were setting the stage for new leadership there.

Britain said its frozen Libyan assets would soon be released to help the country's rebels establish order; France announced plans for an international meeting next week; and Italy sent a team to the rebels' base of Benghazi to help plan reconstruction and the restoration of oil and natural gas production.

"The Gadhafi regime is coming to an end, and the future of Libya is in the hands of its people," President Barack Obama said while vacationing in the U.S.

He said fierce fighting continued to rage in some areas of Tripoli, and he appealed to Gadhafi to prevent further bloodshed and urged opposition forces to build a democratic government through "peaceful, inclusive and just" measures.