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"He's stressed by his situation, that's why I've chosen to overlook him this time," Olsen told reporters.
The 31-year-old has suffered from a loss of form and a lack of playing time since moving to Liverpool from Juventus a year ago.
"We hope that Christian finds a good club and gets playing time so that he can return against Portugal and Cyprus in October," the coach said, adding that Poulsen's Liverpool team-mate Daniel Agger will wear the captain's armband in his absence.
