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.

Greece’s new prime minister is seeking crucial parliamentary support for an EU bailout package that will require restructuring its sovereign debt. Economist William Cline says Uruguay’s 2003 default …

Early stimulus withdrawal would hurt the U.S. economy, but the U.S. Treasury needs to announce a debt-reducing strategy to buoy market confidence, says sovereign debt expert Carmen Reinhart.

The IMF and European leaders have gotten serious about Greece’s debt, says CFR’s Charles Kupchan. But the crisis also raises concerns about the eurozone’s unity.

Some of Obama’s budget proposals are sound policy, but congressional gridlock and faster economic reforms in China and Europe could jeopardize U.S. competitiveness, says Economist.com editor Ryan Ave…