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For 2 days, some people are reporting login window disappearances. Happened to me on both my Windows XP and Ubuntu 10.10 machine. The solution is quite the same:

1. Locate the Skype user settings folder
2. Delete it

On Linux:

1. Open terminal
2. rm -rf /home/username/.Skype

On Windows:

1. Start -> Run
2. %appdata%\Skype
3. Select All (CTRL + A)
4. Delete

Update (31.05.2011.):

As some people pointed, there is a better solution than deleting the whole Skype user settings folder. Instead, you should only delete the shared.xml file in it.