Europe closes a dismal week with another mini-crash. Stoxx 50 -4.3%, Germany -4.2%, Italy -4.6%, Spain -4.3%, France -3.7%, U.K. -2.3%. For the week, Stoxx 50 -7%. Switzerland - benefiting from the franc's devaluation - +1.3% for the week. Today's catalyst seems to be the resignation of Jurgen Stark from the ECB, suggesting deeper troubles at the bank.