The economic crisis has huge implications for EU foreign policy. There is less time for it, less money available, and Europe's ability to project soft power is in a coma.

Just as the mechanisms that made democracy function in city states were not adequate for governing nation states, representative democracies today are showing themselves incapable of managing, effectively and democratically, the system that is emerging in Europe.

The answer to the EU's current problems is to rebuild from scratch, replacing the existing EU with a new, two layered structure with an inner and an outer core.

The economic crisis is now at a critical point, and Europe's leaders must chose between a federated eurozone power or yielding to the power of the markets and economic and political disruption.

Russia's foreign policy over the coming decade will bear the signature of Vladimir Putin, as Russia seeks new alliances and international clout. The price that Russia is likely to pay is international isolation

Despite the deepening crisis, when taken as a whole the Eurozone's basic figures do not look too bad. But because the Eurozone is a flawed construction these figures are only a distraction, and the need for real reforms remains.

The actions of Britain's coalition government are making it more likely that we will see the EU disintegrate, leaving behind a saved Eurozone that marginalises all those outside it - including Britain itself.

The present crisis of the Eurozone is a direct consequence of a half hearted, half considered, half explained and therefore half finished integration. Europeans must be prepared for sacrifice, but our leaders must make sure that sacrifice is worthwhile.

As its international profile and interests grow, China's foreign policies - now those of a great power - are coming under increasing scrutiny. Here are the four fault lines that are forming in how Beijing deals with the world.

The reaction of both the markets and politicians suggests that the latest euro summit has been a success. But the outcome is unlikely to end the euro crisis, and parts of it might actually make it worse.