Calculated Risk | February 26 2011 8:06 EST
Earlier on U.S. economy: Summary for Week ending February 25th
• From the WaPo: Obama calls for Gaddafi to step down as leader of Libya
In a statement, the White House said Obama told Merkel that "when a leader's only means of staying in power is to use mass violence against his own people, he has lost the legitimacy to rule and needs to do what is right for his country by leaving now." Secretary of State Hillary Rodham Clinton issued a statement Saturday also demanding that Gaddafi step down.• The Telegraph blog that is updated frequently: Libya protests: live
23.53 Our New York correspondent Jon swaine has been at the UN, where Libya's ambassador defected earlier today. Read his full report here.• From al Jazeera: Live Blog - Libya Feb 27
23:42 The full UN Security Council is due to meet tomorrow at 4pm GMT (11am in NYC) to discuss possible sanctions against Gaddafi.
2:38am Al Jazeera understands the UN Security Council resolution will freeze the assets of six members of the Gaddafi family, including the Libyan leader - while 16 members of his administration will be slapped with a travel ban. Waiting on news of the vote...• From the WSJ: Pro-Rebel Officers Vow Defense of Eastern Libya