Backgrounders

Current political and economic issues succinctly explained.

Understanding the Libor Scandal

Author: Christopher Alessi

The manipulation of interbank lending rates by a host of global financial institutions could have significant repercussions for financial markets, consumer loans, and regulatory policy, explains this Backgrounder.

See more in U.K., Capital Markets

Greek Elections and the Eurozone's Future

Author: Christopher Alessi

Greek elections this weekend could render a verdict on the country's eurozone future, with analysts fearing serious consequences for the global economy, says this CFR Backgrounder.

See more in Greece, Elections

The Organization of American States

Author: Brianna Lee

As the world's oldest regional body, the Organization of American States has served as a platform for cooperation, but ideological polarization among its members and criticisms of the organization's institutional weakness have raised doubts about its ability to remain relevant.

See more in Americas, U.S. Strategy and Politics

Combating Maritime Piracy

Authors: Christopher Alessi and Stephanie Hanson

A surge in pirate attacks off the Somali coast in recent years has prompted the deployment of an international coalition of navies. But experts say that military force alone cannot address the underlying issue of failed Somali governance.

See more in Somalia, France, Defense/Homeland Security

Campaign 2012

Campaign 2012

U.S. Trade Policy

Authors: Christopher Alessi and Robert McMahon

Trade accounts for an increasing portion of the U.S. economy, and the Obama administration has embraced a ramped up export strategy. But debate persists over the merits of a vigorous free trade agenda.

See more in United States, Trade

Renewing America

Renewing America

U.S. Rail Infrastructure

Author: Elizabeth Dovell

Rail infrastructure is a critical component of a transportation network capable of helping the United States compete in global markets. Efforts to expand and modernize U.S. rail, particularly to include high-speed trains, are under debate as lawmakers weigh costs and benefits.

See more in United States, Transportation, Infrastructure

The Eurozone in Crisis

Author: Christopher Alessi

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.

See more in EU, Financial Crises, Geoeconomics

Expanding China-Africa Oil Ties

Authors: Christopher Alessi and Stephanie Hanson

China has increased its economic ties with Africa as it seeks to fulfill its growing energy demands. But China's way of doing business has prompted international criticism, even as its policy of noninterference faces new challenges.

See more in Africa, China, Energy

The Arab League

Author: Jonathan Masters

Founded as a loose confederation of states in 1945, the Arab League has struggled to overcome dysfunction and disunity among its members. The Arab revolts of 2011 offer the League a new opportunity to pursue necessary reforms, increase legitimacy, and prove its relevance.

See more in North Africa, Middle East, International Organizations

Authors: Christopher Alessi and Roya Wolverson

U.S.-based rating agencies--still reeling from a loss of credibility for being too lenient with risky financial institutions in the run-up to the global financial crisis--are once again under intense scrutiny following S&P's unprecedented downgrade of U.S. debt. The move comes on the heels of intense criticism by EU officials, who contend the raters have accelerated the European sovereign debt crisis.

See more in United States, Financial Crises

Oil's Trouble Spots

Author: Toni Johnson

With oil supplies tight, regions most vulnerable to oil supply disruptions present a significant economic concern, particularly threats to the Strait of Hormuz and unrest in Nigeria, explains this Backgrounder.

See more in Ukraine, Gulf States, Iran, Energy Security