Nepal to become a federal republic (the video is loading, may take long. Please bear with us...)

Nepal's government, on Sunday, agreed to abolish the centuries-old monarchy in a political deal with Maoist former rebels. Nepal's political parties consented to hold the elections in April 2008 to transform the kingdom into a federal republic. Earlier, the nation had plunged into a political turmoil three months ago when the anti-monarchy Maoists quit the government.