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Germany's Economy Minister Michael Glos has resigned following months of criticism of his handling of the financial crisis and, according to SPIEGEL ONLINE sources, he will be replaced by fellow Bavarian politician Karl-Theodor zu Guttenberg.
Glos, a member of the Christian Social Union (CSU), the Bavarian sister party to Chancellor Angela Merkel's Christian Democrats, had tendered his resignation on Saturday but his request was initially refused by CSU leader Horst Seehofer.
