The economy – a Q&A session

The Guardian economics editor debates with readers from 10.30am on Wednesday 27 July on growth, US debt and the eurozone crisis

Despite the Greek bailout package agreed last week between eurozone finance ministers, dark clouds looming over the global economy have yet to disappear. The new head of the IMF, Christine Lagarde, has warned leaders in Europe and America that failure to tackle their debt crises will lead to fresh turmoil – and she's not the only one who's worried that we're heading for period at least as tumultuous as the 2008 panic.

That bailout may have won Greece a temporary reprieve, but it's seen as very close to defaulting. What would this mean for the other weakened southern European economies, and ultimately, for the single currency?

UK politicians may be thanking their lucky stars that the country never joined the euro, but we're far from immune to the pain – as the latest anaemic growth figures demonstrate. The worst recession since the second world war is being followed by the slowest recovery. So what are the prospects for Britain's economy as the coalition's austerity measures hit home, and super-low interest rates mean there's little scope to further stimulate the economy?

Across the Atlantic a farcical – and dangerous game is being played out in the US Congress, as the parties remain at loggerheads over raising the debt ceiling, the amount the government is allowed to borrow. Could the US really default? What would the knock-on effects be?

And finally, is there a better way to run the global economy? Are such bodies as the IMF fit for purpose? Can you really fireproof the global economy, or will periods of prosperity always result in a hangover? Join me, and I'll try to answer some of these questions, and any others you might have.

• Larry Elliott will be live online for two hours from 10.30am (UK time) on Wednesday 27 July to answer your questions.

.guardian.co.uk