The recent decision by European finance ministers to expand the eurozone bailout funds is an important political step, but by itself will not be enough to stem the tide of the debt crisis, says EU expert Thomas Klau.

Would a breaking up of the euro invite another Great Depression? Gideon Rachman of the Financial Times explores the answers.

Charles A. Kupchan argues that the Atlantic alliance is remarkably resilient, but it must now face the urgent challenge of economic and political weakness that has descended upon the West.

Sebastian Mallaby asks whether the Fed might fall behind its Continental counterpart in exercising bold economic leadership.

Professors of economics and public policy Michael J. Boskin and John F. Cogan warn that although California ranks first in technology, agriculture and entertainment among the fifty states, it is nearing the bottom in terms of its business and tax climate and state bond ratings.

Peter Orszag uses counterintuitive findings about second jobs in America to underscore the importance of using real data when examining the labor market.

Anti-Germany protests in Athens have highlighted the country's complicated role as de facto leader of Europe while raising concerns about the continent's ability to advance difficult solutions to the sovereign debt crisis.

Laurence D. Fink, chairman and chief executive officer of BlackRock, discusses the challenges facing the global financial system.

Benn Steil's Financial News column analyzes the disproportionate impact the housing bust has had on young adults, explaining why this is likely to act as a long-term drag on the economy.

Talk among major economies is intensifying over a "financial firewall" to contain the eurozone crisis. But CFR's Steven Dunaway says the emphasis should be on pressing debt-saddled states to make reforms that will improve their growth prospects.

Greece appears to have averted imminent default, but its recovery prospects remain clouded by the severity of its planned austerity measures and the impact cutbacks have already had on its stricken economy.

Philip Stephens discusses two measures necessary to avoid catastrophic economic collapse in Greece and its implications for European solidarity in this Financial Times piece.

Peter Orszag explores the relationship between economic downturns and improvements in life expectancy.

Benn Steil's Wall Street Journal op-ed argues that the Fed's recent 3-year low interest rate pledge, combined with an inflation target below current inflation levels, is misguided, given its persistently poor track record with economic forecasting.

Obama recently presented a number of new proposals concerning the housing market. ProPublica's Cora Currier goes through them, breaking down where each proposal comes from and what will most likely happen moving forward.

The Obama administration's 2013 budget plan has revived debate over the sustainability of U.S. spending. This Backgrounder outlines the competing policy paths on fiscal reforms and the global consequences for failing to bring down U.S. debt.

Election year doesn't have to be a wasted year on the fiscal front, say Pete V. Domenici, Co-Chair of the Bipartisan Policy Center's Debt Reduction Task Force and Alice M. Rivlin, Senior Fellow for Economic Studies at the Brookings Institution, emphasizing the need to slow down the growth of major entitlements and raise additional revenue from an efficient tax system.

The eurozone, once seen as a crowning achievement in the decades-long path of European integration, is buffeted by a sovereign debt crisis of nations whose membership in the currency union has been poorly policed.

Even as Greek leaders agree to new austerity measures, the IMF is calling on Greece's official creditors to take losses on its bond holdings. Analysts and policymakers increasingly question the wisdom of EU-mandated austerity measures at the expense of growth.

President Obama gave these remarks on February 9, 2012 regarding the "landmark settlement with the nation's largest banks that will speed relief to the hardest-hit homeowners, end some of the most abusive practices of the mortgage industry, and begin to turn the page on an era of recklessness that has left so much damage in its wake".