tool, library to replace pseudo escaped entities with real characters

Hi,

I'm sure someone must have written a nice little python script or
something similar to do this sometime, anyway I have some XML with
stuff like

<description>PJ&amp;nbsp;72 fra &amp;Ouml;rsj&amp;ouml; Belysning er
en funktionel lampe&amp;nbsp;som kan justeres efter eget behov.
Fremstillet af lakeret metal og&amp;nbsp;f&aring;s i mange
farver.&amp;nbsp;I serien f&amp;aring;s skrivebordslamper, gulvlamper,
loftslamper.&amp;nbsp;&amp;nbsp;</description>

Which I am calling, for want of a better term, pseudoescaping (maybe
psychoescaping would be good too, or &psychoescaping;)

anyway, rather than sitting down and writing a solution for this
problem I am supposing someone has written it in the past, and I can
just use that.

Thanks,
Bryan