In June, it seemed as if any day might bring about the collapse of the Greek economy and with it, the entire euro zone and its decade-old currency. Then in July and August, it seemed as if everyone was on vacation. Now they’re back — finance officials and political leaders have been flying all over Europe to meet with one another — and along with them the crisis that has been raging for the last two years. Here is a guide to the new season’s most intriguing (and terrifying) story lines.

1. What’s the first big matchup?

This month, Greece’s Parliament needs to approve an additional 11.5 billion euros in spending cuts for 2013-14. If it does, it will most likely prompt big protests in the streets. If it doesn’t, the so-called troika (the European Commission, the I.M.F. and the European Central Bank) won’t lend Greece the money to keep its economy afloat. If all sides get through September intact, they’ll still be at loggerheads during the next phase of budget negotiations.

2. Will France’s 1 percent pick up and leave?

President François Hollande was elected, in part, for criticizing the austerity measures of Nicolas Sarkozy. Now Hollande is expected to cut more than 30 billion euros from his 2013 budget. So what’s a poor Socialist to do? Go after the rich! Hollande has promised to increase the tax rate to 75 percent on incomes above 1 million euros, and he has imposed a one-time wealth tax on people worth more than 1.3 million euros. Some may have packed their bags for Belgium, but the tax isn’t as scary to the rich as it might appear. Very few people make 1 million euros in salary. On balance, this and other taxes on banks and businesses are expected to bring the government more money (about 7 billion euros a year) than they will scare away.

France has become a Tea Partier’s nightmare. France has a Socialist president and strong unions, and government expenditure is 53 percent of G.D.P. And yet over the last decade its economy has grown. The average French salary (about $40,000) is closer to the U.S. average (about $54,000). France has as many Fortune Global 500 companies as Germany, and a strong role in industries as varied as agriculture, nuclear energy, insurance and public transport. So most of its wealthiest citizens probably aren’t going anywhere.