The European sovereign debt crisis is compounded by a faltering U.S. economy, making the implementation of an EU-wide federal budget and coordination of nation-state budgets necessary to preserve the…

Federalism—the division of power between regional governments and Baghdad—is among the most controversial issues in Iraq’s new constitution. Tanya Gilly-Khailany, director of democracy programs at th…

Former CFR President Leslie H. Gelb says the plan to persuade Iraqis to accept a federal form of government is the best way to “maintain harmony among the different Iraqi groups,” although it remains…

CFR’s Roger Kubarych says a new plan could boost banks’ confidence about reserve requirements, but adds that other problems loom.

Ambassador John M. Yates, U.S. special envoy to Somalia, says the security situation remains dismal in Mogadishu and the Somali people lack confidence in the Transitional Federal Government.