Converting XML <link> to HTML anchor

I have an xml like this:

<text>
    <p>Text1</p>
    <p>Text2 <link href="link1">label1</link></p>
    <p><link href="link2">label2</link></p>
    <p>Text3 <link href="link3">label3</link> text4 <link
href="link4">label4</link> text 5</p>
</text>

You get the idea ... there might be any of the possible variations of these -
including an unlimited(!!??) number of links within a paragraph.

I want to output an HTML which will replace all the <link> elements with
anchors.
For example I want from the above:

<p>
    <p>Text1</p>
    <p>Text2 <a href="link1">label1</a></p>
    <p><a href="link2">label2</a></p>
    <p>Text3 <a href="link3">label3</a> text4 <a href="link4">label4</a> text
5</p>
</p>

I am using XT. How do I write an XSL Transform to handle all the variations?

     mike


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