The December 2012 issue of SPSR featured a collection of short essays that explored the domestic politics of the financial crisis, the ensuing international recession and the ongoing difficulties of managing the debt problems and trade imbalances of the Eurozone. The contributors to the first installment of our debate on crisis politics engaged in historical and comparative discussions of government responses to the crisis of 2007-10 and the political repercussions of the crisis. For this, the second and final installment, we have invited prominent scholars in the field of international political economy to comment on how institutions of global governance have performed since 2007 and the long-term implications of the crisis for the prospects of international cooperation in trade, finance and investment. We have also included an essay on the domestic politics of labor market reforms in Western Europe, thematically linked to several essays in the December 2012 issue. By way of introduction, I will briefly summarize and comment on the main ideas of the four essays that follow.