Markets around the world have seen panicked trading over recent days as concern mounts that central banks and politicians are running out of ideas to stimulate growth in their economies.
The United States suffered a historic credit rating downgrade from the highest AAA status to AA+. The European Central Bank was once again forced to buy debt from its troubled southern member states.
Economics editor Larry Elliott, US business correspondent Dominic Rushe and Sukhdev Johal from London's Royal Holloway University discuss what is needed to avoid another plunge into global recession.
Also this week we hear from Tania Branigan in Beijing on how the US downgrade was received in China. And from John Hooper in Rome on how Italy's debt problem is being seen increasingly as a political one.
And finally this week - as we take a summer break on the podcast - the panel sets its summer reading list.
Leave your thoughts below (and suggestions for summer reading) below.
We're back in September.
