Despite global market fears of a U.S. credit downgrade, U.S. treasuries will remain the safest bet for international investors, says global economics expert Kent Hughes.

As partisan wrangling over the U.S. debt ceiling continues in Washington, fears are mounting that a default could trigger another global economic crisis. This guide offers timely analysis on the global implications of the U.S. debt crisis.

Whatever the outcome of the debt ceiling debate, many analysts expect a downgrade in the U.S. debt rating because of doubts about deficit-reduction plans. The fallout could include higher borrowing costs, a weaker dollar, and market turbulence.

A protracted debt default would have serious global repercussions, but even without a default, a likely downgrade of U.S. debt and the absence of a fiscal reform plan are weakening the U.S. and unsettling world markets, says economist Uri Dadush.

The recent killings in Norway highlight the rise of anti-Muslim, anti-immigration feelings in Europe and the U.S. that could impede tackling other forms of homegrown terrorism, say experts.

While Congress is likely to raise the U.S. debt ceiling ahead of the August 2 deadline, lawmakers will still need to hash out a long-term deficit-reduction package to avoid market disruption and preserve U.S. global standing, says economist C. Fred Bergsten.

Eurozone leaders meeting for tomorrow's summit are unnecessarily worried about contagion to Italy, but a growing sovereign debt crisis highlights the role of politics in the markets and the need to find common, EU-wide solutions, says expert Franco Pavoncello.

As the debt-ceiling deadline looms, political wrangling has escalated, but lawmakers are likely to cobble together an agreement that avoids default.

The U.S. economic recovery has been hit by high unemployment, a widening deficit, and political stalemate over the debt ceiling. CFR's Michael Spence calls for boosting investment in education and infrastructure to generate jobs and spur U.S. competitiveness.

Though Standard and Poor's ranks Greece as the world's lowest-rated economy, calling into question the eurozone's future, economist Iain Begg says the debt crisis will paradoxically have the effect of deepening EU integration.

Greece will undoubtedly receive a second bailout from the EU and IMF. But expert Daniel Gros says it remains to be seen whether default is inevitable and if banks and other private bondholders will also take a hit.