Here are some headlines from papers around the world, beginning with an article in the New York Times about the reactions from around the world! ;)
"Election Unleashes a Flood of Hope Around the World" (NYTimes)
The London Times speaks of America's capacity for self-renewal in "Barack Obama's Victory is Head-Spinning Stuff"
Le Monde reports: "La victoire de Barack Obama porte un nouveau rêve américain" (Barack Obama's Victory bears a new American Dream).
You can go to these sites and see the many other articles and reader responses from the other side of the pond.