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.

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We've never been very good at being conservative.

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This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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