L-functions are one of the central objects of study in number theory. There are many beautiful theorems and many more open conjectures linking their values to arithmetic problems. The most famous example is the conjecture of Birch and Swinnerton-Dyer, which is one of the Clay Millenium Prize Problems. I will discuss this conjecture and some related open problems, and I will describe some recent progress on these conjectures, using tools called Euler systems’.