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After Greece officially requested financial help on Friday, markets responded favorably. But that lasted no more than a few hours. Here’s today’s news:

Financial markets upped the pressure on debt-ridden Greece, as investors remained skeptical about its long-term solvency despite assurances that a rescue loan will help pay off a chunk of its crushing debts in coming weeks.

….Analysts had said they expected the euro’s bounce to be short-lived. Now it appears the so-called relief rally after Greece on Friday formally requested financial aid has already run its course….Underscoring those worries, Greek 10-year bond yields soared to 9.60%, from 8.70% late Friday, as the yield premium over comparable German debt, the euro-zone benchmark, widened to 6.55 percentage point, from 5.63 percentage point late Friday.

This is just FYI. I continue to think that Greece’s prospects look very grim, IMF bailout or no.

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

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