Hosni Mubarak to leave Egypt for health check in Germany: report (UPDATES)

Hosni Mubarak is to leave Egypt for medical treatment in Germany, at which time he'll give up the Egyptian presidency, according to Der Spiegel.

The report suggests the plan — organized by the U.S. government and elements within the Egyptian regime as a way to end the political chaos in Egypt — is for Mubarak to head to a clinic near Baden-Baden in Germany.

On Saturday, Mubarak’s party announced a shake-up that removed its old guard, including his son Gamal, from the party’s leadership while installing younger, more reform-minded figures. 

Meanwhile, Voice of America reported Monday that Mubarak's family fortune could be as high as $70 billion. Quoting Middle East experts, VOA reported that the Egyptian president had much of his wealth in Swiss banks or tied up in real estate in New York, Los Angeles and London.

The family wealth dated back to when Mubarak was an air force officer and in a position to benefit from corporate corruption on military contracts, mainly through business partnerships with foreign investors.

Protesters have cited government corruption as a reason they are demanding Mr. Mubarak's ouster.

Mubarak, hospitalized in Germany last March, is rumored to be suffering from cancer. The plan would offer the 82-year-old a "dignified departure," according to the Der Spiegel report.

Over the weekend, the New York Times reported on secret talks to that effect were being held between the U.S. government and Egyptian military officials.

The hospital in question, the Max-Grundig-Klinik Bühlerhöhe, has a respected oncology department, and according to its website offers the "comfort and service of a top hotel." Former Ukrainian President Vickor Yushchenko and former Russian Economics Minister German Gref were treated there.

German Foreign Minister Guido Westerwelle refused to comment on the reports, but the Sunday paper Bild am Sonntag quoted German government circles as saying they were ready to allow Mubarak to enter the country for medical treatment.

Mubarak is reportedly at his vacation home in the Egyptian Red Sea resort of Sharm el-Sheikh.