Aperçu of the European Debt Crisis
The above picture is an excellent chart from the New York Times (click to enlarge) outlining in an accessible manner the forces comprising the European Debt Crisis. Even now, the stock market remains volatile, and the Euro is currently at an 11-month low.
For further information, I recommend these discussions on Charlie Rose, though I admittedly haven’t been following the issue as closely as I would like. For those whose interest is piqued, the Wiki page is very comprehensive about the general history of the crisis, and this article addresses the most recent developments in political & financial negotiations. Lastly, this gauge by CBC concisely summarizes possible outcomes for the Eurozone from best to worst.