Markets’ reaction to the sovereign debt crisis in Greece and other European countries suggests global governments "have used up all their ammunition to boost global growth," and could be punished by …

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.

A protracted debt default would have serious global repercussions, but even without a default, a likely downgrade of U.S. debt and the absence of a fiscal reform plan are weakening the U.S. and unset…

Cutting the federal deficit is seen as essential for reviving the country’s economic standing. CFR’s Peter Orszag looks at some of the pros and cons of recommendations by a presidential commission’s …

Eurozone leaders meeting for tomorrow’s summit are unnecessarily worried about contagion to Italy, but a growing sovereign debt crisis highlights the role of politics in the markets and the need to f…