Europe's Debt Crisis

A temporary Greek government took office Thursday as the country wrestles with a political crisis that sprang from its inability to pay its debts.

Elections will be held June 17, state media reported, after Greeks pulled hundreds of millions of euros out the banking system.

France's freshly inaugurated Socialist president plunged into the economic mess by calling for policies that would spur growth in the ailing eurozone.

Greek leftist leader Alexis Tsipras is struggling to cobble together a government after laying out the radical agenda he hopes to pursue if he becomes prime minister.

President-elect Francois Hollande has to be fiscally responsible yet restore France's competitiveness.

Alexis Tsipras outlined a radical plan to be put to conservative and socialist leaders as he attempts to build a coalition.

The election of the first French Socialist president since 1995 could dramatically change France's role in the world, at a particularly sensitive time.

So far, the markets have taken the elections in Greece and France in stride. And why not? What has changed?

The deal will take pressure off the country in the short term, but as it struggles to rein in huge debts, questions remain over its ability to remain in the eurozone.

CNN is here to help you tell your bond yields from your banking interventions, your defaults from your haircuts.

European leaders thrashed out a deal aimed at resolving an escalating debt crisis that has pushed several economies to the brink of collapse.

As the region's strongest economy, it has borne the brunt of the cost of recent rescue deals, its insistence on unity is viewed with suspicion by some of its neighbors.

Ten hours around the negotiating table were not enough to convince British Prime Minister David Cameron to back down on his demands for safeguards to his country's interests.

More than 330 million people have abandoned their money in favor of the euro and banks have billions of eurozone bonds on their balance sheets.

The core issue is how far the members of the eurozone are prepared now to move towards fiscal and economic union?

France's minister for European affairs, Jean Leonetti, told French TV station Canal+ that if Europe unravels, it would be disastrous, not only for Europe but for the world.

Just one decade after the European single currency was launched amid fanfare and fireworks, its future is now in doubt.

Bamboozled by eurozone debt crisis jargon? CNN is here to help you tell your bond yields from your banking interventions.

While the political spectacle that came with Berlusconi could now fade, the financial show might be just beginning.

The scandal-plagued prime minister will follow his Greek counterpart George Papandreou into early retirement

Italy is 'the elephant in the room'

While the eyes of the world are turned towards Greece, Italy is the more worrisome situation, says Pranay Gupta of ING.

Leaders of Germany and France have warned that if Greece doesn't accept the offered arrangement, there would be a nearly simultaneously default, and that Greece would have to leave the eurozone. Hear what others have to say.

Greece crisis timeline

Max Foster takes a look at how the European debt crisis has taken a turn for the worse this week.

Eurozone members, led by Germany, are being forced to bail out the weaker economies in a financial crisis which is threatening the entire existence of the bloc.

Can the Cannes summit save the EU deal? G20 meets as Greece's government teeters on collapse, following Papandreou's decision to call for a referendum.

A referendum would force the Greek people to face their harsh reality…but it's risky.

Klaus Regling, chief executive of the European Financial Stability Facility (EFSF), arrived in Beijing to hold discussions with potential investors.

Questions still remain about whether the latest deal does much more than buy the eurozone some much-needed time.

Debt at a glance: 14 out of 27 EU members had public debt exceeding 60% of their GDP at the end of 2010.

European policymakers are fully aware that a Greek default could cause real contagion to the rest of the European periphery but they don't appear to be in a big rush to get a credible firewall in place.

Despite widespread violent demonstrations, lawmakers are expected to approve the latest austerity measures.

If the action comes early and if it is decisive and orderly, then it may be possible to force creditors to eat some of their losses. But in a panic, governments will not have time or leeway to negotiate.

Will Greece get out of the debt crisis?

CNN's Jim Bittermann talks to Greek Vice President Theodoros Pangalos about the ongoing Greece debt crisis.

Austerity inspectors head to Athens

Lenders send austerity plan inspectors to Athens, Greece. CNN' s John Defterios reports.

Germany's vote

Parliament votes on giving the eurozone bailout facility new power. CNN's Fred Pleitgen reports.

The bailout fund is being increased after the initial pot of cash was tapped by Ireland and Portugal, before Greece returned for more help.

The 17 eurozone countries are in various stages of deciding whether to approve the expansion of the powers and financing of the European Financial Stability Facility bailout fund.

Will the euro survive?

CNN's Jim Boulden explains where things stand with the eurozone crisis and the European Financial Stability Fund.

Despite last year's €110 billion bail-out ($150 billion) and the introduction of harsh austerity measures, the country has been unable to balance its books.

Creating a currency which could be used across such disparate economies was always a difficult task.

Years of reckless spending and borrowing had left Greece on the verge of financial ruin by the beginning of 2010.

Greece make case for more aid

Greece asks international lenders for millions more in bailout cash.

The worst case scenario is that Greece defaults outright and without warning. This would be hugely significant because it will almost certainly lead to contagion.

If Europe's leaders do not restructure the euro and European debt within a month, the markets will force it on them.

Finland, Slovakia, the Netherlands, and Austria are increasingly questioning the rationale for writing ever larger checks in exchange for empty-sounding promises.

Finance ministers met in Poland to find solutions for Europe's debt crisis. They delayed to October a decision on whether to pay out the next portion of Greece's loan.

German Vice-Chancellor and Economics Minister Philipp Rösler broke a long period of silence about a possible Greek default by saying that all options are to be considered.