Even as Greek leaders agree to new austerity measures, the IMF is calling on Greece's official creditors to take losses on its bond holdings. Analysts and policymakers increasingly question the wisdom of EU-mandated austerity measures at the expense of growth.

Europeans are closely watching the U.S. presidential campaign despite their ongoing economic troubles because the United States remains the number one power in the world, says German expert Josef Joffe.

This CFR Issue Tracker looks at the United States' relationship with Russia and presidential candidates' stances on the issue.

The treaty establishing the European Stabilisation Mechanism was signed by the Eurozone states on February 2, 2012. It awaits ratification to enter into force.

Colonel Chad T. Manske, USAF, says Western economies and capabilities are more inextricably linked than ever and warns against a policy shift away from U.S. security and interests in Europe.

Charles A. Kupchan argues that unless the growing gap between governance and governed is resolved, the EU may be headed for fragmentation, if not outright dissolution.

Colonel Chad T. Manske, USAF, explains why now is not the time to retreat from Europe.

Political and business leaders at the World Economic Forum in Davos are focused on the ongoing eurozone sovereign debt crisis, with some cautioning that Germany is not doing enough to resolve the crisis and facilitate growth.

The ECB and EFSF could do what the ECB alone cannot, writes George Soros.

Secretary of State Clinton and Treasury Secretary Geithner issued this joint statement regarding the EU's new round of sanctions against Iran, on January 23, 2012.

The Council of Europe Social Charter was opened for signature on October 18, 1961 and entered into force on February 26, 1965.

On January 23, 2012 the EU voted on updated sanctions against Iran: EU Regulations 54/2012 and 56/2012, and Council Decision 2012/35/CFSP.

Policymakers and market actors are increasingly concerned about a disorderly Greek default, while many analysts question the wisdom of Germany's strict austerity approach to the escalating eurozone sovereign debt crisis.

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.

This session was a meeting of the Emerging Powers in Global Health Governance roundtable series.

Another eurozone mini-summit is underway today but investors continue to doubt EU leaders' ability to address the sovereign debt crisis, even as banks face a liquidity crunch.

Gayle Tzemach Lemmon states, "Now that attention is turning to what women endure during war, it is time to ensure they get a say in the peace."

Will an EU plan requiring all airlines to join its carbon market starting in 2012 spark a trade war and prove financially harmful to a struggling airline industry?

Leslie H. Gelb says that twenty years after the end of the Cold War, persisting myths about a U.S. victory based on military spending and toughness blind today's policymakers from seeing clearly what actually won the Cold War and what matters most in 21st-century global affairs—the strength of the U.S. economy.

Intelligent observers of Europe in the 1930s thought its future belonged to communism or fascism and would have ridiculed the notion that decades later the entire continent would be democratic.

EU leaders are moving forward with a new fiscal compact, but doubts persist over the agreement's legality and its ability to stem the tide of eurozone sovereign debt contagion.

David Remnick examines how effective the resistance to Putin's next presidency can be.

Vaclav Havel went from designing theater sets to choreographing the Czech Republic's entry into NATO. One constant in his improbable rise to president was a steely commitment to human rights, as reflected in selected excerpts.

Elliott Abrams discusses Iceland's decision to recognize Palestine as a state.

CFR senior fellow Stephen Sestanovich discusses the Russian elections and public demostrations stating, "[E]ven if the [presidential] election doesn't go against [Putin], there's a potential here for changing the atmosphere and rules of Russian politics in a fundamental way."

Russia's pending membership in the World Trade Organization could alter its global economic standing and boost trading partners. But experts say Moscow must restructure its economy to benefit from joining the club.

Experts discuss the lessons learned during the financial crisis and the importance of federal economic oversight in addition to regulatory reform.

Russia's December 4 parliamentary vote has prompted mass demonstrations over allegations of electoral fraud. The protests also stem from public frustration with Prime Minister Vladimir Putin's decision to run again for president in March. CFR senior fellow Stephen Sestanovich says "[E]ven if the [presidential] election doesn't go against [Putin], there's a potential here for changing the atmosphere and rules of Russian politics in a fundamental way." Listen to Sestanovich as he discusses the elections and public demonstrations.

Frank G. Klotz, Susan J. Koch, and Franklin C. Miller argue that as the United States and Russia continue to reduce long-range, strategic nuclear weapons to increasingly lower levels, a disparity in tactical nuclear weapons has serious implications for the overall nuclear balance between the two countries and the continued efficacy of the U.S. nuclear umbrella for its allies.

The mass protests in Russia challenging the parliamentary vote reflect increasing hostility to Prime Minister Vladimir Putin and have the potential to change Russian politics in a fundamental way, says CFR's Stephen Sestanovich.