ASUNCION, Paraguay -- Waving flags and singing the national anthem, Paraguayans threw a huge street party to celebrate the president's surprise resignation and, they hoped, the end of a violent political crisis.

Some 60,000 people shot fireworks and honked horns late Sunday in an outpouring of joy in the same plaza that last week saw bloody riots between supporters and opponents of outgoing President Raul Cubas."The violence has come to an end and so has the fear," the new president, Luis Gonzalez Macchi, said after receiving the gold scepter and sash Sunday night during his inauguration at the pink-stuccoed parliament.

Only an hour earlier, Cubas, flanked by his wife and close aides, announced his resignation on television, apologizing for the violence.

"I will not be responsible for the spilling of more innocent blood," Cubas said. "I'm not leaving a thief or corrupt. I'm leaving in hopes it will help the national reconciliation at this sensitive moment."

The change was the latest chapter in the worst political turmoil Paraguay has seen since a foiled 1996 coup attempt. Violent protests had flared last week over an impeachment trial of Cubas on abuse of power charges.

With Cubas' announcement, blue and red fireworks went off and firefighters cooled the celebrating crowds with hoses in the Southern Hemisphere summer night.

Many hoped the resignation meant the unrest was at an end.

"This is a democratic and legitimate government," said one celebrating man, Roberto Mendez. "Thank God Cubas resigned."

One woman, however, couldn't find strength to cheer.

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Porfiria Caballero said she lost a son, Jose Luis, 25, in street fighting on Friday that killed three others and left more than 100 people injured in the worst day of violence.

"I've just finished burying my son. Neither this government nor any other is going to bring him back," said the disconsolate mother.

The violence began Tuesday when camouflaged gunmen shot and killed Vice President Luis Maria Argana. There are no suspects in the assassination.

Blaming Cubas' government for indirectly causing the killing, Paraguay's lower house impeached the former president on Wednesday. A day later, the senate opened the trial amid growing public demands for his ouster.

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