Egypt's Muslim Brotherhood has called on President Mursi's supporters to take to the streets of Cairo on Tuesday.
Protests against Mursi's decision to assume sweeping powers in the country were already planned in the capital for the same day.
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The beleaguered Labour Party leader is clinging onto power in the face of as many as 150 MPs voting to remove him from the top job today.
Mr Osborne said he is "not the person to provide the unity my party needs".
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