by MONITOR
FINANCIAL markets around the world endured a second week of extreme turbulence which was eventually eased after several central banks intervened to shore up liquidity.

The toy company Mattel issued a second global recall of toys made in China that contained “impermissible levels of lead” or small magnet pieces that were a potential health risk.

In Iraq more than 300 people were killed in a four-bomb attack in the north–west of the country.
India and Pakistan celebrated the 60th anniversary of their independence from Britain but the upbeat economic and political mood in India was not echoed in Pakistan where President Musharaff's future remained in doubt. In the United States President Bush's closest political adviser Karl Rove resigned; Mr Bush invited French President Nicolas Sarkozy to an informal lunch at the Bush home in Kennebunkport.

Bulletin Headlines of the Week l SUNDAY/MONDAY: Police Say Madeleine Could Be Dead (Portuguese detectives said they would be investigating the possibility “more intensively”). l TUESDAY: 14 Arrested As Latin Gangs Clash in Palma (Some 60 South Americans were involved in a late night clash in Calle Joan Miro). l WEDNESDAY: Foreign Patients Cost 15 Million Euros Per Year (The central government had provided 3.8 million euros to the Balearics to help costs of treating foreign patients). l THURSDAY: Crackdown On Latin Gangs (Ecuadorians blamed Dominicans for the fights which led to eleven appearing in court). l FRIDAY: A Royal Gift (A Danish maker of rocking horses and his British wife, residents on Majorca, presented the grandchildren of the Spanish Royal family with a Majorcan black horse model). l SATURDAY: “I Fear My Son May Never Walk Again” (The father of Craig Willis who fell from a fifth floor terrace in Magalluf asked witnesses to come forward).

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