Cairo (CNN) - Euphoric jubilation spilled into a second day Monday in Cairo's Tahrir Square, where revelers celebrated the election of Egypt's first democratically elected president.

But with the hopes of the Egyptian revolution resting on President-Elect Mohamed Morsi's shoulders, the former Muslim Brotherhood member faces an array of challenges both at home and abroad.

For the moment, the presidency is largely a figurehead position as Egypt's Supreme Council of the Armed Forces (SCAF) maintains widespread control over the country - just as it has since Hosni Mubarak's 30-year rule succumbed to a popular revolt last year.
Under an interim constitutional declaration, the military council said it retains the power to make laws and budget decisions until a new constitution is written and a new parliament is elected.

In his first speech since defeating former Prime Minister Ahmed Shafik, Morsi said he is "in charge," while also stressing he must answer to the people.

"We are all equal in rights, and we all have obligations to carry on for this country," he said Sunday night. "As for myself, I have no rights, but I have obligations."

This morning on "Early Start," CNN's Ian Lee looks at how Egyptians are taking this message of unity.

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Ben Wedeman on previews Egypt's presidential runoff vote and shares reactions after a court ruled to dissolve parliament.

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