Why the Euro is Doomed

Let our journalists help you make sense of the noise: Subscribe to the Mother Jones Daily newsletter and get a recap of news that matters.

Matthew O’Brien on why Europe’s common currency is doomed:

The euro is the gold standard minus the shiny rocks.

Read the whole thing, which is a pretty good summary of, um, why the euro is doomed. I agree with it, but I also suffer from cognitive dissonance. On the one hand, all the fundamentals—which O’Brien summarizes admirably—say that the euro can’t survive. On the other hand, I can’t believe that Europe will ever let the euro fail. Obviously one of these beliefs is wrong. The latter, I suspect, but I’m hardly completely sure of that.

For a related take, but with a somewhat different emphasis, my version of O’Brien’s argument is here.


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

payment methods

We Recommend