Compiled by MONITOR HAVING exhausted all other possibilities, the British government nationalised Northern Rock, the mortgage lender that was an early victim of the global credit market freeeze.

Kosovo declared its independence from Serbia with support from the USA and most EU states. Street protests and rioting in Belgrade and Kosovo itself followed.

Toshiba withdrew its HF DVD high definition successor to the DVD leaving the field to Sony's Blu-ray technology which had the support of most Hollywood film studios.

Elections in Pakistan took place peacefully; the party supporting President Musharraf fared badly. The PPP (Benazir Bhutto's party) and the party of former prime minister Nawaz Sharif were considering whether to form a coalition government.

Bulletin Headlines of the Week
SUNDAY/MONDAY: Towering Inferno (A 7th floor apartment fire in Palma brought emergency services to the rescue; the only casualties were victims of smoke inhalation).

TUESDAY: Spain Ignores Kosovo: (The Spanish government made clear it would not recognise the newly independent Kosovo, formerly part of Serbia).
WEDNESDAY: Armed Raid On Palma Restaurant/: Two armed men robbed a restaurant in the Santa Catalina district and got away with 500 euros).
THURSDAY: Latin Gangs Spread (Gangs of mainly teenage Latin American youths were operating in Arta as well as in Palma).
FRIDAY: Spain On Maximum Election Security Alert (The official campaigning period for the March 9 general election had begun).
SATURDAY: Top Balearic Honour for Robert Graves (He is to be awarded the Balearic Gold Medal next week).