The financial crisis has laid bare the shortcomings of the policies and institutions underpinning European Monetary Union. These must be remedied. But Europe also needs to rediscover a sense of fairness. A radical overhaul of the financial markets would be an important step in that direction.

Working out what Beijing really thinks about the euro crisis is not easy. There are Chinese voices warning that buying the debt of troubled European states is "throwing good money after bad," but others know that China cannot pour its money solely into the dollar. Ultimately, Beijing’s attitude to the euro will be determined by China’s own internal economic logic.

In this contribution to an online Economist debate on the future of the euro, Thomas Klau argues that the single currency is indispensible if Europe is to punch its weight on the global stage in the 21st century.

Many commentators are worried that the current crisis will lead to a multi-speed Europe. As seen from Sofia, that a Europe of centres and peripheries has been the reality for many years.

Understandably, European governments are rethinking their aid budgets in the light of the economic crisis. But any cuts to aid and foreign ministry budgets should be judged according to results rather than a simple cost calculation.

Egypt's transition towards democracy is a delicate work in progress. The identity of the new leader - the new 'pharaoh' - of a third of all Arabs will be crucial if the transition is to be a successful one.

The longer term challenges for Europe's politicians are to contest real power at a European level and be honest with voters about the issues confronting the continent in the 21st century.

In a summary of the first chapter of his new book, The fragmentation of European power, José Ignacio Torreblanca describes how the optimism with which Europe entered the new millenium has so quickly turned to gloom, and asks whether the new reality is here to stay.

With Russia's next presidential election scheduled for next March, the important question for Europe is not "More Medvedev or Putin 2.0?" It is whether its giant Eastern neighbour can modernise, and avert the threat of  “Brezhnevisation” – political stagnation without economic reform.

Germany's love for the status quo means that it is losing sight of the future. As the world changes rapidly around it, Berlin must move heed the alarm call and adapt to the realities of the new global order. Re-launching the European project, with Germany at its heart, is vital to the country's future.

In an article for the Financial Times, George Soros argues that European leaders now need to search for an alternative to the crisis that has spread across Europe. This 'Plan B' for Europe will be a European solution, rather than the national solutions that so many are looking for.

Berlin's failure to support intervention in Libya but willingness to arm Saudi Arabia shows the central contradiction in a foreign policy that is increasingly driven by the needs of a geoeconomic power's export industry.

Egypt will struggle to progress towards democracy unless some form of military reform takes place. The first challenge is to make sure that any moves towards reform are palatable to the entrenched interests of Military Inc.

After the euphoria of toppling Hosni Mubarak several months ago, little has been seen of the reforms demanded by protestors in Egypt. Democratisation is a long and complex process, but it is important that the rule of law and broad political participation are given prominence.

It is wrong to think of Germany's assertive response to the eurozone crisis as a simple case of old-fashioned Realpolitik. Berlin's willingness to throw its weight around economically still sits awkardly with reluctance on military issues. In short, Germany is a geoeconomic power.