Breaking: Clock of Doom Still Ticking in Europe

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Well, that was quick:

In Italy, the honeymoon for Mario Monti, an economist who became the country’s premier designate on Sunday, was quickly ending. Monti was holding intense meetings with Italy’s notoriously divided political parties on Tuesday to win backing for a new cabinet. But after an initial recovery in Italian bonds, investors again drove Italy’s borrowing rates above the unsustainable 7 percent mark.

The eurozone economy is flat; Germany’s central banker announced in no uncertain terms yesterday that the ECB had better not provide liquidity to markets in any way, shape, or form; Angela Merkel told her own party that the answer to Europe’s woes was more fiscal integration, something that obviously isn’t going to happen anytime soon; and the fundamentals of the eurozone’s problems haven’t really changed a bit. Put all that together, and everything is unsurprisingly sliding right back into chaos. Tick tick tick.

DOES IT FEEL LIKE POLITICS IS AT A BREAKING POINT?

Headshot of Editor in Chief of Mother Jones, Clara Jeffery

It sure feels that way to me, and here at Mother Jones, we’ve been thinking a lot about what journalism needs to do differently, and how we can have the biggest impact.

We kept coming back to one word: corruption. Democracy and the rule of law being undermined by those with wealth and power for their own gain. So we're launching an ambitious Mother Jones Corruption Project to do deep, time-intensive reporting on systemic corruption, and asking the MoJo community to help crowdfund it.

We aim to hire, build a team, and give them the time and space needed to understand how we got here and how we might get out. We want to dig into the forces and decisions that have allowed massive conflicts of interest, influence peddling, and win-at-all-costs politics to flourish.

It's unlike anything we've done, and we have seed funding to get started, but we're looking to raise $500,000 from readers by July when we'll be making key budgeting decisions—and the more resources we have by then, the deeper we can dig. If our plan sounds good to you, please help kickstart it with a tax-deductible donation today.

Thanks for reading—whether or not you can pitch in today, or ever, I'm glad you're with us.

Signed by Clara Jeffery

Clara Jeffery, Editor-in-Chief

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