LONDON: The world rang in the New Year on Sunday with a string of spectacular firework displays watched by millions but overshadowed by fears at what the economic crisis in Europe could bring in 2012.
Sydney and Hong Kong set the standard with glittering extravaganzas, while London launched a firework display over the River Thames to usher in a year in which it will host the Olympic Games.
Tens of thousands of revellers descended on Scotland's capital Edinburgh to attend its Hogmanay street party. The city saw around 80,000 party-goers welcoming 2012 before erupting into a mass rendition of "Auld Lang Syne".
But in other European cities the eurozone crisis loomed large despite the pyrotechnics.
In a New Year's address, Italian President Giorgio Napolitano delivered a stark message calling on the nation to make sacrifices to "prevent the financial collapse of Italy".
In Madrid, many wanted to forget their country's financial woes for the night, gathering in the Puerta del Sol -- the square that became a focal point for the "indignant" protest movement.
"Today is a day to forget the crisis," said Luis Zorrilla, a 46-year-old teacher as he celebrated, adding that in the New Year state employees like he and his wife would have to "cope with a difficult situation".
Earlier, Sydney kicked off the celebrations. At the stroke of midnight, the harbour exploded in a blaze of colour and light that drew more than 1.5 million people to crowded foreshores and city landmarks.
Shapes of clouds and hearts floated above Australia's biggest city, while glittering lights cascaded off the focal point of the display, the Sydney Harbour Bridge, and fireworks launched from barges and rooftops exploded overhead.
"Every year we make sure our celebrations are bigger and better than the one before," Sydney Lord Mayor Clover Moore said.
Two hours later there were celebrations in Tokyo as the clock struck midnight with balloons released, fireworks set off and the Tokyo Tower lighting up in blue.
It was then Hong Kong's turn in the limelight with the city's harbour lit up by a barrage of fireworks fired from several of its iconic buildings, delighting partygoers crammed on to the waterfront and in pleasure boats.
Meanwhile, in Singapore, some 300,000 people ushered in the new year at the iconic Marina Bay area, where an eight-minute fireworks display marked the arrival of 2012.
Russia's Far Eastern regions of Chukotka, Kamchatka and Magadan, eight hours ahead of Moscow, became the first parts of the vast country to see in the New Year.
Russian state news agencies reported that among the first revellers in 2012 were border guards on Ratmanov island in the Bering Strait that lies just four kilometres from US territory across the international dateline.
In Moscow, thousands gathered in Red Square for another massive firework display that sent rockets 140 metres (400 feet) into the midnight sky.
But the sale of all alcohol was banned in a bid to prevent the revelry getting out of hand.
And the mood was less festive in Russia's second city of Saint Petersburg, where last-minute gift shoppers worried about the economic hard times ahead.
"I expect that things will be worse next year, especially from the economic point of view. I fear that the next year is going to be very hard," said 59-year-old alina Fedorchenko.
As the clock moved through the time zones, celebrations in Dubai centred on the Burj Dubai skyscraper, the world's tallest manmade structure, with a pyrotechnics display even more extravagant than last year's.
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Extreme Engineering 1x05 Bridging the Bering Straitby rovergrover69591 views
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