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VATICAN CITY — ABC News Argentine Jorge Bergoglio has been elected pope, the first ever from the Americas and the first from outside Europe in more than a millennium. He chose the name Pope Francis.

Cardinals elected a new pope to lead the world's 1.2 billion Catholics on Wednesday, overcoming deep divisions to select the 266th pontiff in a remarkably fast conclave.

ABC News - White smoke rose from the chimney of the Sistine Chapel today and the bells of St. Peter's Basilica are ringing, signifying that a new pope has been elected to head the world's Catholic Church.

A roar of cheers arose from the thousands of people awaiting the signal outside the Vatican.

The 115 cardinal electors began the conclave on Tuesday following the resignation of Benedict XVI, the first pontiff to resign in 600 years. At least a two-thirds majority -- 77 votes -- was required to elect the next pope.

French Cardinal Jean-Louis Tauran, the senior cardinal in the order of the deacons, is expected to step onto the balcony of St. Peter's Basilica shortly to announce, "Habemus Papam," Latin for "We have a pope."

Tauran will then reveal the pontiff's birth name and the name he has chosen for himself as pope.

The new pope is then expected to step onto the balcony to greet the crowd gathered below in St. Peter's Square.

(ABC NEWS) Before the 115 cardinal electors file into the Sistine Chapel for the conclave to choose the next pope, technicians will pull up the floorboards to install cell phone jamming devices.

Once there, the doors will be locked and the participants will have no newspapers, television or, for the social media savvy set, Twitter. They'll get virtually nothing from the outside, other than food.

"It is the way of ensuring that the voice speaking to the cardinals during the conclave belongs to the Holy Spirit and no one else," said ABC News Vatican consultant Father John Wauck.

The ritualistic conclave involves centuries-old customs that have changed very little over time.

The tradition of locking the doors dates back to 1274, when the cardinals met in the remote village of Viterbo.

Two years and eight months into the longest conclave ever, frustrated townspeople tried everything to motivate a quicker decision. They locked the cardinals inside and resorted to more extreme measures, trying to starve them out and tearing the roof off the building to expose them to the elements.

2013 Conclave

The cardinal electors in the upcoming conclave will be much more comfortable, surrounded by Michelangelo's frescoes in the Sistine Chapel.

A date for the secret event, which literally means "with key," won't be set until the cardinals convene on March 4, a Vatican spokesman said.

Pope Benedict decreed a conclave could be held as soon as all voting cardinals are present. All cardinals under 80 when the papacy is vacated are eligible to participate.

While campaigning is forbidden inside the Sistine Chapel, experts say there is plenty of politicking in the days before.

"This is schmoozing at the highest level," said Christopher Bellitto, a professor at Kean University in New Jersey who has written nine books on the history of the church.

More than half of the cardinal electors were appointed by Benedict, and many are using the days before the conclave to get to know each other and feel out the general sentiment, Bellitto said.

"I think each cardinal has a list of a dozen people in his head. He may know some very well, some by reputation," Bellitto said. "If the cardinals don't know someone, they may ask someone they trust [their opinion]."

On the day the conclave begins, the cardinal electors will attend mass before filing into the Sistine Chapel. For one of the 115, it will likely be his last time wearing a red hat. The cardinal electors have a history of elevating one of their own to the papacy, so that lucky choice will exchange it for the pope's traditional white.

Once inside the Sistine Chapel, the cardinals will take an oath of secrecy and then be given rectangular ballots with the words "Eligo in Summum Pontificem" written on them, meaning, "I elect as supreme pontiff."

Each voting cardinal writes the name of his choice for pope on the ballot and is asked to disguise his handwriting to avoid letting others know who is supporting whom.

Three scrutineers count the ballots, and if no one receives the required two-thirds majority, the votes are burned. A black smoke signal will signal to the world the vote was inconclusive.

Damp straw was once used to turn the smoke black, Bellitto said, however after years of confusion, dye has reportedly been used.

There can be a maximum of four ballots in a single day, and if after three days the cardinals still haven't selected a pope, the voting sessions can be suspended for a day of prayer and discussion.

Throughout the secret process, the cardinals will eat and sleep in a private guest house on the edge of Vatican City.

Only a select staff of doctors, cooks and housekeepers, all sworn to secrecy, are allowed to interact with the cardinals.

For approximately half of the cardinal electors, this will be their second time participating in the mystical event.

Cardinal William Levada of San Francisco, a first-timer, said his colleagues in the college of cardinals have given him an idea of what to expect.

"I think it is a prayerful atmosphere," he said. "No campaigning. It is forbidden to campaign there. You can't put yourself forward."

Habemus Papem: We Have A Pope!

The first sign that the 1.2 billion Catholics worldwide have a pope will come when white smoke curls out of the Sistine Chapel's chimney.

Inside the chapel, the man who is chosen to be pope will be asked by the cardinal dean if he accepts. If so, he will be asked for his papal name.

"Generally, the way it works is there is some level of affection toward a certain name," Bellitto said.

At his first general audience as pope, Benedict XVI said he chose the name to "create a spirutual bond with Benedict XV, who steered the church through the period of turmoil caused by the First World War," and also cited his fondness for the Benedictine Order as an influence.

The newly elected pontiff wiill be fitted with the papal vestments before making his way to St. Peter's Basilica, his identity still unknown to the world.

French Cardinal Jean-Louis Tauran, the senior cardinal in the order of the deacons, will step onto the balcony of St. Peter's Basilica to tell the world the name of the man chosen as the next pontiff.

Tauran is expected to make the announcement unless he is chosen pope, in which case another cardinal would deliver the news.

The new pope will then step onto the balcony and greet the world for the first time.

However, the secrets of the conclave that elevated him to the position will be forever be kept among one of the world's most exclusive clubs.

By DAVID WRIGHT (@abcdavid) and ALYSSA NEWCOMB (@alyssanewcomb) March 11, 2013

VATICAN CITY (ABC) - Below is the offical Vatican translation of what the Pope said today regarding his resignation.

Dear Brothers,

I have convoked you to this Consistory, not only for the three canonizations, but also to communicate to you a decision of great importance for the life of the Church.

After having repeatedly examined my conscience before God, I have come to the certainty that my strengths, due to an advanced age, are no longer suited to an adequate exercise of the Petrine ministry. I am well aware that this ministry, due to its essential spiritual nature, must be carried out not only with words and deeds, but no less with prayer and suffering.

Pope Benedict XVI Sends First Tweet Watch Video However, in today's world, subject to so many rapid changes and shaken by questions of deep relevance for the life of faith, in order to govern the bark of Saint Peter and proclaim the Gospel, both strength of mind and body are necessary, strength which in the last few months, has deteriorated in me to the extent that I have had to recognize my incapacity to adequately fulfil the ministry entrusted to me.

For this reason, and well aware of the seriousness of this act, with full freedom I declare that I renounce the ministry of Bishop of Rome, Successor of Saint Peter, entrusted to me by the Cardinals on 19 April 2005, in such a way, that as from 28 February 2013, at 20:00 hours, the See of Rome, the See of Saint Peter, will be vacant and a Conclave to elect the new Supreme Pontiff will have to be convoked by those whose competence it is.

Dear Brothers, I thank you most sincerely for all the love and work with which you have supported me in my ministry and I ask pardon for all my defects. And now, let us entrust the Holy Church to the care of Our Supreme Pastor, Our Lord Jesus Christ, and implore his holy Mother Mary, so that she may assist the Cardinal Fathers with her maternal solicitude, in electing a new Supreme Pontiff. With regard to myself, I wish to also devotedly serve the Holy Church of God in the future through a life dedicated to prayer.

From the Vatican, 10 February 2013 BENEDICTUS PP XVI