Peter Spiegel

There’s been talk of Greece returning to the drachma and now the European Union and Germany are said to be exploring the possibility of rescuing Spain. On this week’s first Backstory, Peter Spiegel, Brussels Bureau Chief for the Financial Times, talks about the latest developments in the ongoing economic crisis in the Eurozone.

Following a weak employment report on Friday and continued grim news out of Europe, some worry the United States economy may be on pace for another slowdown.

On today's second Backstory, we'll look at the latest efforts to stabilize the Eurozone as the debt crisis there continues. Peter Spiegel, Brussels Bureau Chief for the Financial Times, gives us an update on the first day of meetings of European leaders in Brussels, and whether a proposed overhaul of the European treaty is likely to find support there.

On Thursday, Slovakia's parliament approved the latest proposal to address the Eurozone's debt crisis, but it was the second time that the measure came to a vote this week. On Tuesday, the parliament had rejected it. On today’s second Backstory, Peter Spiegel, Brussels Bureau Chief for the Financial Times, discusses some of the reasons behind the rejection and how the Eurozone’s smaller countries feel about the plans to stabilize the economy that have been developed by the larger economies of France and Germany.