The financial and political crisis facing Europe can only be redressed with further eurozone integration that the continent's publics may not be ready for, says CFR's Charles A. Kupchan.

EU approval of a new proposal for a banking and fiscal union would help reassure global financial markets and alleviate the eurozone debt crisis, says Bruegel's Benedicta Marzinotto.

G20 members meeting in Mexico won a commitment on banking sector integration despite limited influence on eurozone politics, says expert Jacob Funk Kirkegaard.

The U.S. financial sector is at risk of eurozone sovereign debt contagion that could potentially undermine the fragile U.S. economic recovery, explains economist Richard H. Clarida.

Greece's political turmoil is spreading fresh economic uncertainty. But it is wrong to assume an automatic exit from the euro or further sovereign debt contagion, says expert Iain Begg.

New electoral currents in Europe are threatening the German-backed fiscal responsibility pact and sparking fresh fears of debt contagion, says CFR's Sebastian Mallaby.

New questions over the wisdom of unfettered budget cuts are shifting the emphasis of eurozone crisis responses from austerity to growth, says economist Thomas Philippon.

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.

An agreement by EU leaders to create a new fiscal union signals a political commitment to the future of the euro. Economist Iain Begg explains why it will not immediately solve the eurozone sovereign debt crisis.

Despite the failure of a supercommittee deficit deal, budget expert Peter Orszag says there will still be opportunity for policies, such as more economic stimulus and cutting healthcare costs, to avert a U.S. fiscal crisis.

Greece's new prime minister is seeking crucial parliamentary support for an EU bailout package that will require restructuring its sovereign debt. Economist William Cline says Uruguay's 2003 default offers a constructive model.

The ongoing eurozone sovereign-debt crisis dominated the G20 summit in Cannes, but there is little the United States and other G20 nations can do to influence EU policymakers, says CFR's Steven Dunaway.

The fate of the EU is in doubt as a crucial summit prepares to address the economic crisis. CFR's Charles Kupchan says the union will likely survive and could even grow stronger by creating more capable institutions to oversee the euro.

As Greece inches closer to defaulting on its pile of sovereign debt, European leaders must move quickly to recapitalize the continent's exposed banking sector, says EU economics expert Jacob Funk Kirkegaard.

Amid fears of another global recession, investors are focused on U.S. policymakers. Restoring confidence in the world's largest economy will require both national sacrifice and innovation--not more Fed intervention, says CFR's A. Michael Spence.

As Germany and France look to contain a mushrooming sovereign debt crisis, the eurozone will have to consider greater political integration or face a crumbling of the common currency zone, says EU expert Daniela Schwarzer.

Global markets' reaction to eurozone turbulence and S&P's downgrade of U.S. debt add uncertainty to U.S. foreign policy, raising questions about which goals the country has the means to pursue, says CFR's James M. Lindsay.

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.

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.

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.