Willem Buiter discussed the current and future challenges of the Eurozone, including the sovereign solvency crisis and the possible restructuring of current sovereigns, Spain's current debt situation, the role of the European Central Bank, and the possible exit of Greeze from the Eurozone.

Citigroup's Chief Economist Willem Buiter discusses the future of sovereign debt in the wake of the crisis in Greece.

A Greek exit from the euro following the country's upcoming elections will be have negative consequences for Greece, European banks, as well as the eurozone, cautions CFR's Sabastian Mallaby.

Sebastian Mallaby, Director of the Maurice R. Greenberg Center for Geoeconomic Studies and Paul A. Volcker Senior Fellow for International Economics, says Greece is nearing a turning point in its debt crisis. Mallaby predicts that "Greece is going to have to default, it's going to have to be restructured in its debt," and argues that policy-makers need to "prevent the fire from spreading out of Greece and causing trouble all across the eurozone."

European Union Commissioner for Economic and Monetary Affairs Olli Rehn expects negotiations on a new Greek aid plan between the EU, IMF, and Greek government will conclude "in the coming days," ahead of the EU finance ministers' meeting scheduled for June 20.

Citigroup's Chief Economist Willem Buiter discusses the future of sovereign debt in the wake of the crisis in Greece.

This meeting was part of the C. Peter McColough Series on International Economics.