Habemus Papam: What Does It Mean

"Habemus Papam" is the Latin term to announce "We Have a Pope." And it's announced right after white smoke emerges from the Sistine Chapel chimney — the sign that the 115 cardinals convened in The Vatican to elect a new pontiff, after the sudden and shocking resignation of former Pope Benedict, have indeed competed their task. According to CNN, the name and identity of the new pope will be revealed at any minute from the iconic balcony. Click here for a list of the frontrunners