The BNP Paribas case demonstrates the growing rigor of U.S. prosecutions of illicit finance, and will have implications for markets and the global banking industry, says expert Juan C. Zarate.

Governments’ refusals to entertain the possibility of dialogue with groups such as al-Qaeda and the self-proclaimed Islamic State causes needless deaths, says expert Jonathan Powell.

Special tax incentives have enabled Puerto Rico to borrow irresponsibly for years, and now the island must take painful steps to balance its budget, explains expert Matt Fabian.

Puerto Rico’s debt crisis has entered a new stage. Without congressional action and deeper reforms, the island could find itself unable to provide basic services, says CFR expert Brad Setser.